Next week's Pension Bill will include the first step in setting up an independent Personal Accounts Delivery Authority , which will have a 'significant degree' of autonomy.
Speaking at the Association of British Insurers’ (ABI) ‘Saver Summit’, John Hutton, Secretary of State for Work and Pensions, outlined some of the responsibilities the new body will have. He revealed the Personal Accounts Delivery Authority will be an independent body which will firstly “advise government on the design of the operational structure of these accounts and provide support to get the necessary contractual arrangements in place”. In addition, he says the new authority - which “truly will be an independent arms length body” - will aim to use the “best experience and skills of t...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
