The key issues in the UK pensions industry were debated at a recent roundtable dinner with the Minister of State for Pensions, Steve Webb MP, hosted by Squire Sanders.
The event was held in association with the Greater Birmingham Chambers of Commerce. Guests included senior management from Jaguar Land Rover, Goodyear Dunlop, Mondelez, Smiths Group, Co-op Group, Chesapeake and Thames Water.
The dinner gave those present the opportunity to explore the implications of the far reaching pension reforms announced in the 2014 Budget. Attendees also discussed the potential for further pensions reforms in the lead up to the 2015 General Election.
Steve Webb provided a helpful insight into the reforms and sought feedback on the government’s current pensions policy, including:
- Building upon the success of pensions auto-enrolment
- Freedom of choice in defined contribution pensions
- Considerations on defined benefit to defined contribution transfers
- How to tackle pension liberation fraud
- The potential impact of the European Directive on Institutions for Occupational Retirement Provision
Commenting on the event, Squire Sanders’ Birmingham Head of Pensions Matthew Giles said: “Mr Webb gave an intelligent and candid account of the UK government’s pensions reform agenda and provided our clients with a rare and timely opportunity to quiz him on the new regulatory regime. We are grateful to the Greater Birmingham Chamber of Commerce for their support with the event.”