Pensions - Articles - New Secretary of State must make time for pensions policy


Commenting on the appointment of Amber Rudd as Secretary of State for Work and Pensions, Steve Webb, Director of Policy at Royal London said:

 ‘In a large and complex department like the DWP, there is a risk that the attention of a new Secretary of State is quickly focussed on complex and contentious issues like sorting out Universal Credit. But pension policy is also of vital importance to millions and we urgently need a Secretary of State who gives it the attention that it deserves. A particular priority should be to drive forward the pensions dashboard, as well as making sure that there is a Pensions Bill in the next Queen’s Speech.

 That Bill should make it compulsory for pension schemes and providers to send data to a dashboard, as without compulsion the project will fail. Legislation could also be used to improve automatic enrolment, implementing previously agreed improvements such as bringing in younger workers. And DWP should tackle other unfairnesses such as the way in which some low-paid workers do not get tax relief on their pension contributions and the way that thousands of mothers are missing out on credits towards their state pension.

 There is much to be done in the pensions space and I hope that Amber Rudd will be make time to focus on the changes that are needed’.
  

Back to Index


Similar News to this Story

TPR to sharpen decision making scrutiny after Kodak decision
The Pensions Regulator is introducing greater levels of scrutiny after its decision to allow Kodak to jettison it pension liabilities faced criticism.
CDC schemes could provide better outcomes for members
In responding to the DWP’s consultation on delivering collective defined contribution pension schemes which closed yesterday, XPS Pensions Group belie
Paying pension tax charges is not always a bad thing
The common perception is that people should do all they can to avoid paying these charges. This can lead to some people choosing to leave their pensio

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.