In the Pensions and Lifetime Savings Association's (PLSA's) regular column for Professional Pensions, the trade body’s director of policy and advocacy takes a closer look at some of the policy initiatives that kept the Pensions and Lifetime Savings Association (PLSA) busy over the last year.
By IPE Staff2021-05-18T15:08:00+01:00
The Pensions and Lifetime Savings Association (PLSA) has said that more can be done to support and protect savers as they decide how to access their pension in retirement.
These recommendations should “pave the way for pension providers to give greater support to savers at retirement, irrespective of the size of their balance, their level of engagement, or what type of solution they use to access their pension,” said the PLSA.
Pension freedoms have given UK savers new possibilities and options with their savings, however, “a bridge is needed to help savers transition from a system that uses the power of inertia to successfully bring them into pension saving through the complex decisions they must take to access their pension saving in retirement”, it added.