DWP Stronger Nudge to pensions guidance: PLSA Response

On the 9th July 2021, the Department for Work and Pensions (DWP) opened a consultation on the proposed regulations introducing requirements for individuals to be nudged to obtain pensions guidance by trustees and managers of occupational pension schemes. 

The PLSA although supportive of what the Stronger Nudge is trying to achieve, would like to see more testing of other approaches to increasing uptake of pensions guidance, prior to implementation. There is clearly more to be done to increase Pension Wise appointments even further and this is why we welcome exploration of earlier nudges and why we support the concept of exploring options for automatic appointments at least 5 years out from Normal Retirement Dates.