NAPF calls for government to take action on pension policy drift

The National Association of Pension Funds (NAPF) has called on the government and financial regulators to take action on pension support to bring an end to policy drift.

Among the measures it deems necessary to alleviate the problem are an enhancement of member security by making the government ultimately responsible for the Pension Protection Fund, as well as an information campaign to promote the importance of pension saving.

NAPF issued the call in response to a recent report by the Confederation of British Industry which called for government assistance for businesses struggling with pension deficits.

Joanne Segars, chief executive of NAPF, said that the report emphasised the need for "pro-active action to support UK pension provision Unless support is provided, we may all look back at 2009 and regret that opportunities to do more were missed."

Last week, Standard Life called for greater flexibility in over 50s finance options amid fears that savers are becoming alienated by current conditions.

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