The Pensions and Lifetime Savings Association (PLSA) has commented on today’s reports in the press about the Government’s forthcoming White Paper on the defined benefit (DB) pension sector [Observer, Telegraph].
Graham Vidler, Director of External Affairs, Pensions and Lifetime Savings Association, said:
"We welcome the Prime Minister’s proposals to crack down on reckless behaviour which puts DB pensions at risk. 11 million people depend on DB for their future income and a focus on protecting the security of those pensions is essential. As well as introducing criminal sanctions we'll be looking to the forthcoming White Paper to strengthen and clarify the Pensions Regulator's powers and to help more schemes take advantage of the opportunities of consolidation."
NOTES TO EDITORS
ABOUT THE PENSIONS AND LIFETIME SAVINGS ASSOCIATION
We’re the Pensions and Lifetime Savings Association; the national association with a ninety year history of helping pension professionals run better pension schemes. Our members include over 1,300 pension schemes with 20 million members and £1 trillion in assets, and over 400 businesses. They make us the voice for pensions and lifetime savings in Westminster, Whitehall and Brussels.
Our purpose is simple: to help everyone to achieve a better income in retirement. We work to get more money into retirement savings, to get more value out of those savings and to build the confidence and understanding of savers.
Kathryn Mortimer, Press Officer, Pensions and Lifetime Savings Association
T: 020 7601 1748, M: 07901 007713, E: [email protected]
Eleanor Carric, PR Manager, Pensions and Lifetime Savings Association
T: 020 7601 1718, M: 07825 171 446, E: [email protected]