Red tape 'top gripe for pension savers'
The burden of red tape has been rated as the number one complaint for pension savers in the UK, according to a recent poll.
An online survey carried out by the National Association of Pension Funds (NAPF) found that close to two-thirds (63 per cent) of people consider red tape to be among their three biggest concerns about saving for retirement.
Furthermore, this figure rose to around 75 per cent when issues surrounding EU legislation on pension benefits were added to the regulatory equation, the NAPF poll discovered.
And in response to its own findings, the association has called on the new secretary of state for work and pensions Peter Hain to take action to alleviate fears around the issue of pension regulations.
"By taking forward the deregulatory agenda, Peter Hain has an early opportunity to demonstrate that he will be good news for workplace pensions," said Joanne Segars, the NAPF's chief executive.
The NAPF claims to be leading organisation dedicated to representing groups involved in establishing workplace pension schemes.
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