24 January 2012
The Department for Work and Pensions is to hold a "red tape
challenge" in a bid to deregulate and help reinvigorate
occupational schemes. In a briefing last night, pensions
minister Steve Webb said the first step in reinvigorating
occupational pension provision was deregulation.
The minister said: "The presumption is that any piece of
regulation or legislation about pensions will go unless we can
justify its continued existence."
Mr Webb called on the industry to help identify areas of
regulation.
"There are quite a few one can think of we should get rid of but
we would welcome nominations of bits of pensions regulation that
are counter-productive, do nothing or are burdensome."
He added: "This will be part of the mix of the reinvigoration of
occupational pension provision."
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