Proposed government changes to pensions tax relief threaten to turn pension revolution to "pension implosion" according to outgoing NAPF chairman Ruston Smith.
Addressing delegates at the NAPF Annual Conference Smith said tax change could "literally dig up and smash the foundations set to create a society of lifetime savers - putting pressure back on our ageing society."
He continued: "Our critical role as the social conscience and savers' champion must continue to get the best outcomes and not just accept short term change to overcome short term challenge."
He quoted business strategist Max McEwan in saying: "Change is inevitable but progress is not" and urged the industry not to accept short term fixes that could damage long term goals.
"If we stood and watched - as changes are made to the industry - we'd end up with higher DB deficits - regulation that doesn't work - and reforms that can't be implemented," he said.
However, he also urged the industry not to reject change just for the sake of it but said that any change does need to be in the best interest of savers.
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