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ABI response to the DWP Defined Ambition consultation

In response to the Department for Work and Pensions' (DWP) Defined Ambition Pensions consultation, Reshaping workplace pensions for future generations, Otto Thoresen, Director General, ABI comments:

"The ABI welcomes this consultation which provides a clear basis on which to debate a range of alternative ways to improve certainty for pension savers. The Insurance industry has an important role to play in making pension reform a success, through value for money products and helping people make the right choice at retirement. We have considerable expertise in risk management and will contribute fully to this consultation.

"Any new initiative must build on the existing pension reform framework and modern defined contribution solutions, so that those currently being auto-enrolled can also benefit.  The ABI is keen to work with the Government to help to identify the most effective ways to increase pension saving."

Read the full consultation on the Government website.

Last updated 01/07/2016