‘Pot for life’ pensions are great news for savers

Ffion White

by , PR Manager

21 Nov 2023 /  

Nov 2023

Packing a box.

In response to a story in that the Government is to introduce pension ‘pots for life’, which for the first time would enable people to choose their own pension provider and ask employers to pay into their pension of choice,

Becky O’Connor, Director of Public Affairs at PensionBee, said: “‘Pot for life’ is a great solution to the problem of people having lots of old pensions from multiple jobs.

A pension could become a bit like having a bank account, into which different employers can pay. It’s good for savers, giving them more say over how they want to grow their retirement fund and hopefully a decent solution to the problem of lost pension pots.

Pot for life has the potential to shake up the industry, bringing what consumers actually care about to the forefront, boosting competition and bringing the way people engage with pensions into the 21st century.”

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