The National Association of Pension Funds (NAPF) commented on the Department for Work and Pension’s launch today of consultation on equalising for the effect of the Guaranteed Minimum Pension.
Darren Philp, NAPF Director of Policy, said:
“Although these changes have been in the pipeline for some time, this is unwelcome news for pension funds. Pension schemes already have enough on their plate and the administrative headache this will create could not have come at a worse time. We will study the detail of what the DWP is proposing and play an active role in responding to its consultation.”
Notes to editors:
The NAPF is the leading voice of workplace pensions in the UK. We speak for 1,200 pension schemes with some 15 million members and assets of around £800 billion. NAPF members also include over 400 businesses providing essential services to the pensions sector.
Paul Platt, Head of Media and PR, NAPF, 020 7601 1717 or 07917 506 683, [email protected]
Christian Zarro, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]