The decision to shelve pension innovations such as pot follows member and defined ambition was down to "timing rather than policies", Ros Altmann has said.
The pensions minister yesterday confirmed the department for work and pensions would not proceed with the development of pot follows member or risk sharing ideas defined ambition and collective defined contribution (CDC). Speaking at the National Association of Pension Funds annual conference, Altmann said it was essential the pensions industry is given sufficient time to get to grips with the freedom and choice reforms introduced in April. She also said the on-going roll-out of auto-enrolment and overhaul of the state pension should take priority. The decision, she said, was bas...
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