UK. Opperman says Pensions Bill is ‘good to go’
The minister for pensions and financial inclusion has detailed the main areas that will be covered in the upcoming Pensions Bill, which he said is “completely ready and good to go”.
Speaking at a fringe event at the Conservative Party conference in Manchester yesterday (October 1), organised by the Social Market Foundation and The Institute And Faculty Of Actuaries, Mr Opperman said his work on the bill was done, although he noted he was waiting for the Queen’s Speech – scheduled for October 14 – for the bill to be fully announced.
He said: “Nothing it is locked in until Her Majesty says the magic words but I have a bill that has been drafted, it is ready and addresses three key areas.”
Mr Opperman revealed the document has a “copious section on collective defined contribution [schemes], with 45, 50 clauses”.
This will set out “in great detail not only like how the likes of Royal Mail and Communication Workers Union can progress on CDC, and how CDC can be a third way on pensions, but also making clear that other organisations could potentially utilise this as a way to find a future for their defined benefit situations,” he noted.
Read more @FT Adviser
