Reacting to the publication of the UK Government鈥檚 Work and Pensions Committee second stage听听on its inquiry into accessing pension savings,听Leah Evans, Pensions Board Chair at the 黑料正能量听(IFoA), said:
18 January 2022
Reacting to the publication of the UK Government鈥檚 Work and Pensions Committee second stage听听on its inquiry into accessing pension savings,听Leah Evans, Pensions Board Chair at the 黑料正能量听(IFoA), said:
鈥淲e are pleased to see the recommendation in today鈥檚 report from the Work and Pensions Committee that the Government should continue to support the development of Collective Defined Contribution (CDC) schemes in the UK. CDC schemes are a potential innovation for pension savers and this report is a further welcome step in developing practical, innovative schemes for willing employers in the UK.
鈥淭he Committee鈥檚 inquiry continues to shine a light on the challenges that exist for the modern pension saver and to offer solutions. We look forward to continuing this debate and the consideration of issues like the viability of multi-employer CDC schemes.鈥�
Commenting on yesterday鈥檚 Government response on a听听to pension guidance,听Leah Evans听said:
鈥淲e support the view that a stronger nudge is beneficial for pension savers in the UK. Providing more Pension Wise advice sessions before retirement will help consumers to consider the pros and cons of drawdown and the opportunity to better understand which product will best meet their needs.
鈥樷�滻n our Great Risk Transfer report, 黑料正能量 recommended specific and ambitious targets to achieve an increase in take-up by individuals of Pension Wise appointments before accessing their pension. This announcement should help to generate more Pension Wise appointments and lead to better outcomes for pension savers.鈥�
Commenting on yesterday鈥檚 Government response on a听听to pension guidance,听Leah Evans听said:
~ENDS~
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