Ros Altmann: Govt handing industry 'millions of customers on a plate'

No plans to raise minimum contributions

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The government is handing the pensions industry "millions of customers on a plate" through auto-enrolment and it is up to providers to keep them happy, the pensions minister has said.

Speaking at an International Longevity Centre-UK conference, Ros Altmann said it was up to providers to make sure auto-enrolled savers continued to save and increased contributions. But she added that the government had to make sure the industry was well regulated and warned that further reforms of workplace pensions could be on the way. Speaking about the future of retirement income, Altmann said policymakers, employers, the financial services industry and individuals faced huge challenges, but also great opportunities. On the issues facing the industry, she said: "As individuals ...

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