Deloitte focuses on admin simplification

In its Insurance Market Update, Deloitte says much attention has so far been focused on the sales benefits of pensions simplification, with little towards the advantages in pension providers being able to simplify their pensions’ administration. Additionally, Deloitte points out: “Legislation will require interpretation, and will continue to be clarified right up to A- Day.” On the sales side, some firms hope simplicity will attract more individuals to save as less advice will be required and simpler design would enable products to be developed which have lower charges. That said, adm...