Pensions - Articles - PLSA comments on report on pension costs and transparency


Nigel Peaple, Director of Policy & Research at the PLSA, comments on the Work and Pensions Select Committee report on pension costs and transparency:

 “The PLSA supports the Pensions Dashboard as a means of helping savers plan their retirement income. Crucial to this will be savers' trust and confidence in the dashboard, achieved through a non-commercial service and including all of savers’ pensions - including the State Pension - in one place. We are pleased to see the Committee agrees these elements will be essential to the dashboard from the outset.

 “Equally important is the context in which people see their pension savings. We strongly agree with the Committee that the inclusion of retirement income targets on the dashboard would make the information presented there more meaningful to savers. The PLSA has commissioned Loughborough University to develop a set of independent Retirement Living Standards for widespread industry adoption, which will be released on 17 October 2019 at our Annual Conference in Manchester. We look forward to working with the Pensions Dashboard Industry Delivery Group to secure their inclusion in the service.

 “The PLSA welcomes the Committee’s support for the Cost Transparency Initiative templates. We are encouraged by the industry’s widespread engagement: the templates have been downloaded thousands of times from the website and the PLSA has fielded hundreds of technical queries about implementing the regime. We are fully committed to improving the quality of cost transparency across the pension sector.”
  

Back to Index


Similar News to this Story

PLSA launches Retirement Living Standards
New Retirement Living Standards designed to help people picture the lifestyle they want when they retire – and understand the cost – has been launched
Thomas Cook staff miss out on full pension benefits
Stuart Price from Quantum Advisory comments on Thomas Cook staff missing out on full pension benefits
PTL and Aegon comment on PLSA retirement guidance
PTL and Aegon comment on PLSA retirement living standards guidance launched today at the annual PLSA conference in Manchester.

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.