The National Association of Pension Funds (NAPF) has commented today (Tuesday) on the Royal Assent of the Pension Schemes Bill.
Joanne Segars, Chief Executive, NAPF, said: “Royal Assent of the Pension Schemes Bill is very welcome as pension schemes can now get on with the important task of implementing the Government’s pension freedoms reforms. But with only 23 working days to go before the reforms go live, and schemes working flat out to implement the reforms in time, Government should waste no time in providing the missing pieces of the puzzle.
“These reforms have the potential to bring real benefits to savers, but there is still uncertainty amongst the public about what they should do to make the most of the opportunities. It is vital government ensures all communications to savers are realistic, so they can make solid plans for retirement and avoid disappointment.
“To help savers the NAPF has outlined three top tips for taking advantage of the new pension freedoms. These are – be informed, be realistic and take your time.”
“The NAPF is committed to making these reforms work, but ultimately we must not forget it’s about savers not voters. They are not a silver bullet to secure the silver ballot.”
Notes to editors:
The NAPF is the voice of workplace pensions in the UK. We speak for over 1,300 pension schemes that provide pensions for over 17 million people and have more than £900 billion of assets. We also have 400 members from businesses supporting the pensions sector.
We aim to help everyone get more out of their retirement savings. To do this we spread best practice among our members, challenge regulation where it adds more cost than benefit and promote policies that add value for savers.
Lucy Grubb, Head of Media and PR, NAPF, 020 7601 1726 or 07713 073023, [email protected]
Eleanor Bennett, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]