ACA criticises pensions calculator reforms

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ACA criticises pensions calculator reforms

Mon 11th Apr 2011

A senior source from the Association of Consulting Actuaries (ACA) has suggested the government has not reinvigorated the pensions system with some of its proposals.

Stuart Southall, chairman of the organisation, applauded the introduction of Nest and the move to single-tier payments, but claimed the coalition cannot claim to have added a great deal of life to the private retirement savings sector.

Speaking at a dinner event on April 7th, the ACA spokesperson explained that policies such as the switch from RPI to CPI, the sex-equalisation issue and tax charges for higher earners will not reinvigorate the industry.

He said: "The ACA certainly will be engaging most fully with Lord McFall's 'Call for Evidence' and, once again, we will be mapping out constructive proposals."

Secretary of the industry body Andrew Vaughan recently called on the government to lay out the private pensions system in such a way that employers can feel confident of being able to offer staff a range of retirement saving options.

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