Video: What does the future hold for the pensions industry
"We've seen a massive increase in the number of members in a master trust," said Dowsey. This has led to a much greater interest into how these trusts are run and the introduction of the master trust assurance framework.
Looking ahead, Dowsey said that following the roll-out of auto-enrolment, "we want stability so we can sort out our strategies going forward". She also calls for changes to the at-retirement proposition to ensure it is appropriate.
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