The National Association of Pension Funds (NAPF) commented on The Pension Regulator’s publication today of material to support and encourage good defined contribution (DC) pensions.
Darren Philp, NAPF Director of Policy, said:
“The Regulator’s statement usefully builds on the work it published last year defining the principles for good DC. This is important on the eve of automatic enrolment.
“You can’t argue with the high-level principles that the Regulator has set out and the document is a useful summary of its thinking in this area.
“However, we would like to have seen the Regulator be bolder in setting out its vision for what good DC looks like. In a DC world where the risk is with the member, putting the member at the heart of the process is what counts in securing good outcomes.
“We think that this can only be achieved by good member governance. We need to ensure the interests of the member are protected.”
Notes for 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]