The Pensions and Lifetime Savings Association (PLSA) comments on findings from the Association of Consulting Actuaries 2021 Pension trends survey on the impact of regulation.
Nigel Peaple, Director of Policy and Advocacy, PLSA, said: “There is a huge amount of regulatory change facing pension schemes in 2022 and widespread concern about the industry’s capacity to handle so much at once.
“A certain amount of regulatory change is necessary, but a balance must be struck between the benefits it delivers in terms of better retirement outcomes, and the costs, which ultimately fall on individual savers and employers.
“To ensure we avoid over-regulation, it is important that the Government does a proper cost benefit assessment before making proposals and undertakes fully open and public consultation before proposing new requirements.”
Mark Smith, Senior PR Manager
020 7601 1726 | [email protected]
Steven Kennedy, Senior PR Manager
020 7601 1737 | 07713 073024 | [email protected]