Aviva’s Post

There were a few notable announcements in yesterday’s King's Speech, but the one that caught our attention was the Pension Schemes Bill 👀 Emma Douglas, Director of Workplace Savings and Retirement said: “We welcome the Pension Schemes Bill, and the measures outlined will strengthen pensions investment and help savers manage their pensions more effectively. We’re pleased to see the commitment to have the Value for Money framework as a standardised test across defined contribution schemes because it’s important that whatever type of workplace pension scheme, it offers value to pension savers. We are also really pleased to see the focus on the full retirement journey because we must ensure savers can effectively manage their retirement funds. We are still keen to continue the success of auto enrolment (AE) and we hope for early consultation on how and when it is expanded because this is key to improving pension adequacy for future retirees. It is also good to see the small pots issue is being prioritised and we look forward to working through the detail. We look forward to working with the government on the next steps of the Bill and the pensions review.” #PensionSchemes #RetirementSaving