Advisers concerned about impact of 'pot for life' pension reforms

Hunt’s reforms could have potential impact on employees and employers

Isabel Baxter
clock • 3 min read

Advisers are concerned about the potential impact on both employees and employers of the lifetime provider proposals, Royal London has found.

When asked about the lifetime provider model announced in the 2023 Autumn Statement, nearly two-thirds (63%) of the 94 advisers included in the research panel said they believed it would make communication more difficult and reduce employer interest in pensions, which would worsen outcomes for the majority of employees.  They also believed it would make it harder for employers to manage their workplace pension scheme with 67% saying the impact of sending contributions to numerous providers would be problematic. On a more positive note, 71% did not think scam activity would increase as...

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