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Building a Consensus for Better Pensions

October 18, 2023

TISA have joined forces with nine other organisations to sign a charter calling for major reforms to improve outcomes and create an “adequate, fair and affordable pension savings system for all”. 

The charter – Building a Consensus for Better Pensions ­- urges political parties to commit to reforming the UK pensions system and pledge to set clear objectives for the UK retirement savings system; protect the value of the state pension; and bring excluded groups within the scope of auto-enrolment (AE).

Better Pensions Charter

Renny Biggins, Head of Retirement at TISA said:

“TISA welcomes the success of Auto Enrolment in bringing more people into pension saving, but we also recognise that the current minimum contribution levels are not enough to ensure good retirement outcomes for most individuals and households. That is why we support these proposals that put pension adequacy at the heart of all policy debates and changes. As with other areas of reform, we believe that at times, the Government and the regulators should adopt a more joined-up approach to change, and we as an industry should do the same. This pensions charter is a positive step in that direction and, allows us to present a unified and clear message on the key areas of focus for future policy creation.”

Other signatories include the Pensions and Lifetime Savings Association, Association of British Insurers (ABI), Age UK, Association of Professional Pension Trustees (APPT), Chartered Institute of Personnel and Development (CIPD), PASA – Pensions Administration Standards Association CIC (Pasa) and the People’s Partnership.