Pensions - Articles - Pension priorities for Therese Coffey

Steven Cameron, Director of Pensions at Aegon comments on Therese Coffey’s appointment:

 “Continuity at the helm of the government’s biggest spending department has taken another knock with the departure of Amber Rudd as Work and Pensions Secretary and the appointment of Therese Coffey bringing the tally to seven secretaries of state in four years.

 While the speed of the revolving door can only be destabilising for the Department for Work and Pensions (DWP) at least there is more stability for the pensions brief with Guy Opperman providing some consistency. We hope this means we’ll see no more delays from Therese Coffey on important priorities including pension dashboards and ‘default’ pensions for the self-employed. DWP also needs to work urgently with Treasury on key pensions tax issues including making sure non tax payers all get the pension tax relief they are entitled to.

 And we also need an urgent review annual and lifetime allowances to avoid the ridiculous situation which sees higher paid NHS professionals giving up work to avoid big tax bills on pension contributions.”

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