The pensions industry must prove to government that it is "part of the solution to the pensions issue and not the problem," the director of life, pensions and savings for the Association of British Insurers (ABI) has said.
Stephen Gay, who was speaking to delegates at the PIMS 2013 conference on Friday, warned that the life and savings industry does not enjoy a good reputation in Westminster and should not presume it will continue to be included in decisions around pensions policy. He said: "If the industry does not demonstrate that it can find workable solutions to the pensions problem the government will go ahead without it." Despite this, the government has involved the industry in its plans for pension reform so far. The plans comprise four elements: the simplification of the state pension, auto...
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