Consumers must come first

Speaking at the NAPF Annual Conference & Exhibition in Manchester, Andy Harrison, Chief Executive of Whitbread said that convincing people to save is difficult when the product is complicated and hard to understand.

He said that the sector must improve public opinion by putting the consumer at the centre of everything.

And while Harrison welcomed automatic enrolment he also called for an easy way to aggregate small pots. He said: “I worry about the tens of thousands of people move from company to company, their small pension pots are going to be eroded by admin costs, transfer charges and fees and they’re going to become disillusioned.