The Chancellor has published his Mansion House Reforms.
Dr Yvonne Braun, Director of Policy, Long-Term Savings, Health & Protection at the ABI, said:
“We want to see successful, enduring pensions policies that help deliver better returns for savers as well as boosting the UK economy, and we fully support the Government’s ambition to achieve this.
“The focus on value for money and retirement solutions is very welcome and will enable schemes to make their own judgments and be accountable for them. However, any market-shifting reforms, such as the proposals for Collective DC, Superfunds, and the Pension Protection Fund, must be thoroughly considered so that they put savers first and don’t undermine policies and markets that are working well.
“Any successful pension reform must work for the long-term, be evidence-based and have savers’ interests at its heart. We look forward to working closely with Government over the summer as it develops its plans.”