Pensions - Articles - Comment on the Pensions Schemes Bill


Comment from Steven Cameron, Pensions Director at Aegon, on the Pension Schemes Bill covering: Pension Dashboards, Guidance, Climate Change and Collective Defined Contribution schemes.

 Steven Cameron, Pensions Director at Aegon comments: “The Pension Schemes Bill is one step closer to being enacted after completing its Report Stage and Third Reading in the Commons. We’re pleased that the Pensions Minister continues to champion a range of Pension Dashboards offered by different entities alongside the MaPS dashboard. We agree this will allow individuals to choose the dashboard most convenient for them, which may be linked to their current pension provider or scheme. We also support avoiding adding to the complexity of Dashboard content or functionality at this stage – let’s get them up and running first.

 “The role of guidance has been one of the contentious points in the Bill’s journey. As individuals take more and more responsibility for their own retirement plans, it’s critical they have access to the support they need, when they need it. Guidance from Pension Wise is an important part of this and should be encouraged. This needs to sit within a wider framework of information, prompts and support from pension schemes and providers and crucially professional financial advice for those who need it.

 “On climate change, there’s a careful balance to be struck between encouraging responsible investment without overstepping the mark and impinging on trustees responsibilities to act in the best interest of members.

 “Those who support Collective Defined Contribution schemes will be pleased these are also one step closer. However, a huge amount needs to be done to make sure these are fair, safe and understood by future members, not just of the Royal Mail scheme but of any others which may be put in place.”

 
  

Back to Index


Similar News to this Story

Trouble ahead for pensions after insolvency protections end
Aon has said that a ‘perfect storm’ could be awaiting many UK pension schemes once the temporary protections from corporate insolvency are lifted at t
AMNT welcomes taskforce of Pension Scheme Voting
AMNT welcomes establishment of the Taskforce on Pension Scheme Voting Implementation and Simon Howard as its Chair.
The PPF publish The Purple Book 2020
The Pension Protection Fund (PPF) has published The Purple Book 2020, which shows increased risk in the universe of defined benefit pension schemes as

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.