Pensions - Articles - Snap General Election could disrupt pension initiatives

According to Kate Smith, head of pensions at Aegon, a number of initiatives that are currently going through the parliamentary process could now be disrupted following the Prime Minister’s decision to call a General Election,

 Kate Smith, head of pensions at Aegon commented: “Rather like a giant sponge Brexit has already soaked up MPs’ attention, so the further distraction of a General Election will have consequences on existing policy initiatives. Issues like the strengthening of master trust regulation through the Pensions Bill 2017 are keenly awaited, as is the Government’s response to the Cridland Review, although a delay in responding fully to contentious decisions around state pensions could work in the Government’s favour. With Parliament breaking up on 3rd May, parliamentarians’ focus will now turn to securing partisan support from the electorate rather than advancing legislation through the parliamentary process.

 “Other casualties of the snap election could include the Finance Bill which was expected to get Royal Assent in July, and the Queen’s Speech, originally scheduled for June, which was touted to set out another Pensions Bill to tackle pension scams.

 “The prospect of more rafts of legislation after the election result is strong as newly elected Governments like to set out their stall and summer Budgets swiftly follow summer General Elections. Again this might disrupt the flow of existing policy initiatives through parliament, including whether the Government decides to take any radical action on underfunded Defined Benefit schemes with stressed employers and the long awaited Green Paper on social care funding, an issue which governments have been procrastinating about for years.” 

Back to Index

Similar News to this Story

Global Pension Risk Survey reveals UK progress on de-risking
Aon has said that the UK findings of its ‘Global Pension Risk Survey 2017’ show pension schemes are continuing to take positive steps to reduce their
Underprepared over 50s lurch towards Zombie Retirement
New research from Retirement Advantage paints a troubling picture of how many people in the UK are failing to consider their impending retirements. Th
Data Protection Bill gives clarity for pension schemes
Trafalgar House has advised that the inclusion of the Data Protection Bill in yesterday’s Queen’s Speech provides valuable reassurance for the industr

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS


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