The People’s Pension responds to The Pensions Bill

The People’s Pension response to the inclusion of the Pensions Bill in the Queen’s Speech Commenting on the inclusion of the Pensions Bill in the Queen’s Speech, Gregg McClymont, director of policy at The People’s Pension, said: “We’re pleased to see that the Government intends to introduce legislation to compel pension companies to provide the data needed to make the pensions dashboard work.

“Without compulsion the dashboard is a pipedream. But there remain a package of measures necessary if the public are to have confidence in dashboard. First, dashboard won’t work unless all savers can see all their pensions in one place. Total coverage is therefore crucial.. Second, charges must be included from the outset to achieve transparency. Third, if the Government continues to promote multiple dashboards it’s imperative that a legal duty to operate in the best interests of savers is placed on all such operators.”

ENDS

The People’s Pension is a leading not-for-profit master trust in the UK, provided by B&CE, with more than 4.5million members from 90,000 employers, and £8bn assets under management (AUM).

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