NAPF rebrands as Pensions and Lifetime Savings Association

The National Association of Pension Funds (NAPF) has rebranded as the Pensions and Lifetime Savings Association (PLSA).

Joanne Segars

The change is designed to allow the association to broaden its reach and account for the different ways in which people save for retirement.

Joanne Segars (pictured), chief executive of the PLSA, announced the change at the NAPF Annual Conference and Exhibition 2015 on 15 October.

She said: “The simple age of a DB [defined benefit] pension or an annuity with a single point of retirement and a single source of income is vanishing fast.

“Even if regulators and the government stopped changing the rules today, life wouldn’t stand still. Changes in working patterns, consumer demand and in technology will all affect how, and when, schemes and savers make decisions.

“The new world of pensions is less certain [and] less defined. The lines are blurring between work and retirement, between pensions and lifetime savings, and between individual savings schemes; and if the world is changing, we need to change too.”

The association plans to expand its remit by supporting new members through its services, including small employers, universities, local authorities, charities and master trusts.  

Segars added: “We want to speak for all of the workplace pensions sector, [which] means from the oldest and most established DB scheme to the smallest and newest auto-enrolled employer.”