The government has introduced the long-awaited Pension Schemes Bill in Parliament.
In response, Yvonne Braun, Director of Policy, Long Term Savings Long Term Savings and Health & Protection, at the ABI said:
This wide-ranging Bill is set to usher in the most large-scale pension reforms since auto-enrolment. The details will be crucial and we will scrutinise the Bill to ensure it puts the interests of savers first.
We also urgently need to tackle the level of pension contributions which are too low to create an adequate retirement income for many. We urge government to set out the details of its adequacy review as soon as possible.
Yvonne Braun
ABI Director of Policy, Long Term Savings Long Term Savings and Health & Protection