What is on your workplace pensions wish list?
Within hours of Ros Altmann being announced as the new pensions minister this week the emails started pinging into my inbox with variations on the theme of ‘What should the new pensions minister do’.
I am sure she has her own ideas. But no harm in adding your view.
So the question I would like to ask pensions, benefits and reward managers who look after workplace pensions is: what would you like Ros to do?
Let’s assume the overwhelming response of ‘stop any more changes or legislation so we can catch our breath’ is a given, what else would help?
- Anything on financial guidance, advice or education?
- What about tax and salary sacrifice?
- Or contribution levels - keep escalating them under auto enrolment as is? Or esculate more so people will retire with a decent pension? Or delay increasing them?
- What about auto-enrolment? Have all the quirks and tricky bits of the requirements been ironed out?
- Do you have a view on the state pension and state retirement age?
- How about the regulatory bodies? Do they help or are they confusing?
I am sure she will have her hands full with plenty of lobbying from the pensions industry.
But I am sure she would value insights from employers as well – so do let her know.