The NAPF backed today's (FRI) launch by The Pensions Regulator of its discussion paper on defined contribution pensions, ‘Enabling Good Member Outcomes in Work-based Pension Provision'.

Darren Philp, Director of Policy, National Association of Pension Funds (NAPF), said: “These / Defined contribution pensions are becoming more and more important, but their standards vary greatly, so it is important to try to raise them. “With millions set to join a pension in the next few years, people need to be assured they are getting value for money and that they stand the best chance of a good retirement.

“The NAPF has done a lot of work to try to promote high standards in DC pensions. 160,000 people and rising are now in a pension that carries our Pensions Quality Mark – a benchmark that ensures good standards of governance, contribution rates, and communication. “The Regulator's paper sets out some important areas for potential improvement, including record-keeping, scheme size and investment choices.

“It is welcome that it is taking a strategic approach to these issues and is starting a debate about how to improve member outcomes. However, it needs to proceed with caution and not rush to introduce new regulations. The NAPF is fully engaged in this important debate.”