15% view frequent pensions regulation changes as a burden

Alan Ritchie 430

Some 15% of employer respondents feel that frequent changes to pensions regulation are a burden, according to research by Barnett Waddingham and Standard Life.

The Employersโ€™ attitudes to the changing defined contribution (DC) pensions landscape report, which surveyed 76 employers, also found that more than half (52%) of respondents cite regulatory stability as the key factor for DC pensions success.

The research also found:

  • Around a quarter (23%) of respondents say that addressing regulations is their short-term pension scheme objective.
  • 29% of respondents include keeping up with and implementing these regulatory changes among their long-term objectives.
  • 17% of respondents feel that they require more regulatory support for their pension schemes.

Paul Leandro, partner, workplace health and wealth at Barnett Waddingham, said: โ€œEmployers want to do whatโ€™s right by their employees and are yearning for regulatory stability to allow them to do so.

“Although our research shows there is still a long way to go to improve confidence that there will be such stability, recent announcements that the government has dropped plans to end or alter tax relief on pensions demonstrates a willingness to address employersโ€™ concerns.โ€

Alan Ritchie (pictured), head of employer and trustee propositions at Standard Life, added: โ€œKeeping up with regulation has continued to be a distraction for employers, which is a natural consequence of so much change in recent times.

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“If we now have a period of relative calm in regulation then employers will be able to focus on the list of things they really want to do for members to enhance their outcomes.โ€