“It’s important to have member choice within that, but what’s really important is that it has a delivery system that underpins it,” O’Carroll said.
He added that the DWP continued seek industry and individual responses on preferred small pot solutions, but cautioned that from a legislative perspective, the absence of a one-size-fits-all solution meant that “cost benefit analysis is really important as well as policy design”, and that this will necessarily take some time to get right.
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Benjamin Mercer is a senior reporter at Pensions Expert, FTAdviser's sister publication
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