Last Friday (10th December) Steve Webb and Tom McPhail were gracious enough to spend 20 minutes on an FT Adviser podcast explaining why legislating for a (pension) Statement Season was not best use of government (and industry) time now. Gracious because it was apparent within 2 minutes that it’s the wrong idea.
Let’s just concentrate on implementing the Simplified Annual Statement without diluting the great work of Quietroom, Ruston Smith and Eversheds.
The two-page statement inserts numerous prompts to engage retirement savings urging them to ask questions.
One such prompt is showing “Money you’ve transferred in from other pension schemes” raising the question to savers of consolidating pension pots.
Guiide and The Pension Lab have integrated their technology to help savers understand the benefits of transferring pots and making it simple for them to do so. Creative Benefits will be the first provider to put in place this capability for their members.
Hear the FT Adviser podcast here https://lnkd.in/dwkXJEPn
See the Simplified Annual Statement here https://lnkd.in/d5vPA2ds