The recent focus on collective defined contribution schemes confirms that pensions minister Steve Webb is finally concentrating on the right area for radical pensions reform and the need for every prospective UK pensioner to take on the responsibility for planning their later life.
This is exactly the type of innovation and change that we have craved for, and needed, in the pensions industry and it will give people some serious motivation to take greater personal responsibility for their retirement planning.
Michael Whitfield
Chief executive
Thomsons Online Benefits
Gordon House
Greencoat Place
London
