The government must shed light on how incoming pension flexibilities interact with means-tested benefit rules, according to shadow pensions minister Gregg McClymont.
The Department for Work and Pensions (DWP) has published proposals to automatically transfer small pots when savers move jobs, with exemptions for funds outside the 0.75% charge cap.
Pensions minister Steve Webb has urged the next government to introduce joint ministers across pensions, ageing society and the Treasury to break down silos between the departments.
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Steve Webb believes his most notable achievement in five years as pensions minister has been the state pension reforms but fears his infamous Lamborghini comment could be his legacy.
The government has laid draft regulations before parliament to introduce a 75 basis point charge cap on defined contribution (DC) default funds alongside a raft of additional governance requirements for trustees.
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Providers have shown interest in plans to allow people to unwind their annuities, according to pensions minister Steve Webb.
Pensions minister Steve Webb has floated plans to allow providers to bulk transfer members from legacy schemes to more cost efficient models.