17 January 2022

New nudge to pensions guidance a step in the right direction

3 min read

Eliot Woolfe
Eliot Woolfe

PR Consultant

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Commenting on the government’s new measures introduced to protect savers and boost pension guidance take-up, Jamie Jenkins, Director of Policy & External Affairs at Royal London, said:

“The world of pensions is often complex and can be difficult to navigate, so it’s great to see the government introducing new rules to try and improve the use of guidance. Our research found that nearly three in four (72%) adults admitted they have little or no knowledge about pensions, with nearly one in five (19%) workplace pension holders having ‘no idea’ what happens to their pension contributions. While these changes may not solve that problem overnight, it’s good to trial new ideas that might help.”

-ENDS-

 

For further information please contact:

Eliot Woolfe, PR Consultant

About Royal London

Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £153 billion, 8.8 million policies in force and 4,075 employees. Figures quoted are as at 30 June 2021.