Pension System Reforms
The Department for Work and Pensions (DWP), the Financial Conduct Authority (FCA), and the Pensions Regulator (TPR) are collaborating to create a pensions system that works for savers.
At the Pensions UK annual conference, delegates were assured that the regulators would strive to provide certainty in a time of change. Charlotte Clark (FCA), Kerstin Parker (DWP), and Nausicaa Delfas (TPR) warned that the industry needs to prepare for radical changes resulting from incoming pensions legislation.
The pension system currently is unfinished. We’ve managed with automatic enrolment to create a nation of savers, but we know that they’re not saving enough, and that at retirement, it’s not clear what they should do.
Author's summary: Regulators team up to reform pension system.
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