Government announcements regarding the reform of workplace pensions do not go "far enough" in some areas, according to one industry body.
Joanne Segars, chief executive of the National Association of Pension Funds (NAPF), said that further changes will need to be made in order to "maintain existing good-quality provision".
The comments follow an announcement from the Department for Work and Pensions made earlier today (January 12th), which stated that millions of UK workers were now a step closer to getting their first workplace pension.
Final rules for the government’s pension reforms were put before parliament today.
The NAPF view that more needs to be done may encourage people to investigate additional methods of funding their retirement.
This could lead to the rise in popularity of programmes such as equity release schemes which allow homeowners to boost their income by accessing money tied up in the value of their property assets.
Ms Segars added that the government had listened to many of the NAPF’s proposals and said that the organisation welcomed the "more pragmatic" approach the government had taken.
