Nation’s retirement fate will be in the hands of new pensions minister
20th September 2022 15:43
by Rebecca O'Connor from interactive investor
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interactive investor’s head of pensions and savings Rebecca O’Connor comments on the announcement that Guy Opperman has been removed from the post of Pensions Minister.
Following today’s announcement that Guy Opperman has been removed from the post of Pensions Minister after five years in the seat, Becky O’Connor, Head of Pensions and Savings, interactive investor, the pension and investment platform, said: “The nation faces a brighter retirement future thanks to the growth of auto-enrolment over the past 10 years, but big gaps and vulnerabilities remain.
“Despite positive progress in the roll-out of defined contribution workplace pensions, according to our research, 26% of the UK adult population say they do not have a pension.
“The state pension triple lock, the state pension entitlement age, pensions for self-employed people, the pensions dashboard, gender pension gap and higher contributions in workplace pensions are all live issues waiting in the in-tray of a new minister. That’s not to mention resolving the issue of underpaid state pensions – a huge, ongoing administrative nightmare for the Department for Work and Pensions.”
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