The world of pensions has changed. Britain’s pension savers are living longer and are more diverse. Richard Edes, The Pensions Regulator’s Interim Director of Strategy and Risk asks: What can be done to make sure the system works as efficiently as possible for everyone?
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If you get married and change your name, those you owe money to don’t forget you. If you move house, your debts remain tied to your credit record.
As Michael Johnson recently outlined in his letter to the Select Committee on Intergenerational Fairness and Provision, Generation Y (aka millennials) could be the first generation to experience a lesser quality of life than their baby boomer parents.
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We want to accelerate the consolidation of pension schemes. Why? Because many smaller schemes are simply not good enough.
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Reaching the incredible milestone of 10 million people newly saving or saving more into a pension is like reaching the summit of a mountain.
Some things are foreseeable. As automatic enrolment has created hundreds of thousands of new pension memberships, so the defined contribution (DC) market was inevitably going to grow.
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The pension cold calling ban is here. Consumers, regulators and police officers alike should celebrate.
For several months now, we have talked about our commitment to change as a regulator – to be clearer, quicker and tougher.
No-one can claim that all is rosy in the pensions world. There are many things that could – and should – be done to make UK pensions better, simpler and more sustainable.
