Pensions Investment Review: Unlocking the UK pensions market for growth

This is PLSA’s response to DWP’s consultation on increasing scale in DC pensions.

We agree greater scale has many benefits, but some of the more aggressive measures proposed would have negative unintended consequences for savers, including shutting down good value schemes. We therefore propose a more phased, nuanced route to scale, along with more focus on how schemes invest, given productive in the UK is a key priority for government. We also support government’s proposed statutory override for non-consent transfers out of poor value legacy products.