Pension News NAPF Praises DWP Deregulatory Review Response 18328007
NAPF praises DWP deregulatory review response
24 October 2007
Chief executive Joanne Segars described the announcement by the Department for Work and Pensions (DWP) as a “sensible middle course”.
She suggested the plans strike a balance between the safeguarding of members’ benefits and providing an incentive to employers to make “good quality” occupational pensions available to workers.
Ms Segars also said the NAPF is “pleased” that its calls for a change in the revaluation of deferred pensions deregulation seem to have been heeded.
“These proposals will help sustain the future of defined benefit pensions, which provide valuable income to millions of working people in retirement,” she concluded.
The NAPF has more than 1,300 industry members who provide pensions to over ten million employees, according to its website.
Upon announcing the government plans today, Mike O’Brien, minister for pension reform, said regulation in other areas will also be investigated.
He said these identified areas will be “carefully examined” and this will form part of “an ongoing programme of deregulation”.
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