Guest comment: Savers must continue to see pensions as safe investments

I want savers to be confident that, even during the pandemic, workplace pensions and pensions operated by regulated providers are a safe long-term investment for their retirement.

That’s why The Pensions Regulator (TPR) joined six other organisations in publishing a 26-page guide that tells savers, in plain English, about the work being done by organisations including TPR, the Financial Conduct Authority, and the Pension Protection Fund, to protect pensions during the pandemic.

TPR has been quick to point to the free and impartial support savers can still access to even while under lockdown, such as the Money and Pensions Service and The Pensions Advisory Service.

But organisations such as TPR can only go so far. It’s important for pension savers to see and absorb the message that they don’t have to rush big decisions and that there is still help available to allow them to properly consider these important choices about their money.

To that end, I ask trustees and scheme managers look at guidance on our website, which highlights how to help savers avoid rushed decisions through their communications with scheme members.

Our guidance can be found in the Covid-19 section of our website’s homepage – www.thepensionsregulator.gov.uk.

Together, we can help ensure that, despite the difficulties this pandemic has brought, savers continue to see their pensions as a safe, long-term investment for retirement.

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