Gregg McClymont MP, Labour’s Shadow Pensions Minister, responding to the IPPR report ‘Defining ambitions: Shaping pension reform around public attitudes’, said: 

“With the current cost-of-living crisis, hard-pressed families who struggle to save for a pension need to know that schemes offer good value for money. This IPPR report shows how mistrust of pension providers is deterring people from making proper provision for their future. But this out-of-touch Tory-led government is unable to deliver the pension market reform we need.

 

“It is deeply regrettable that the Government opposed our proposal to restore trust in the pension market which would ensure pension providers have independent trustees with a legal duty to prioritise the interests of savers.”