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  • Government warned it risks rushing into “poorly-designed and badly executed” pensions policies

    11 June 2014

    Greater freedom and choice in pensions welcomed by sustainable finance industry but unrealistic pace of change is feared.

    The UK Sustainable Investment and Finance Association (UKSIF) today welcomed the UK Treasury’s proposals to give people greater flexibility over how they receive their pensions.

    However UKSIF, which represents over 250 pension funds, asset managers, financial advisers and banks, warned that so many legislative changes to the pensions and investment market in such a short period of time risked the creation of “poorly-designed and badly-executed” policies.

    A key area of concern is the level and breadth of guidance individuals can hope to access when making decisions about which pension to use and how to access their savings. UKSIF urged the government to act now to guarantee guidance which meets the clear consumer demand [1] for pensions that are ethical and sustainable.

    Caroline Escott, Head of Government Relations, said:

    “It’s clear that our current pensions system is unsustainable and urgently needs reform.  We think that the government’s proposals to give greater flexibility and choice over pensions are a very positive step.

    Click here to read the full press release.

     

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