The Pensions and Lifetime Savings Association (PLSA) will “continue to advocate alongside the Department for Work and Pensions” (DWP) on their guided retirement income choices, PLSA senior policy lead defined contribution, master trusts and standards, Rurai Grant, has said.

Speaking at the PLSA Annual Conference 2023, Grant explained that the guided retirement income choices were a framework that allows schemes to help savers balance the longevity, inflation, and investment risks they face to make the most of the opportunities they have at retirement.

In addition to this, Grant discussed the work the PLSA had done this year including the Pension Quality Mark, which he said the PLSA hopes to “build out in the next year”.

Grant said that the association hopes to build awareness of this through targeting human resources.

Later in the session, when the panel were asked what they would like more government to focus on, Grant suggested “targeted support” would be something he would like to see more focus on.

Meanwhile, Young Money Blog founder and journalist, Iona Bain, said: “Dashboards cannot come soon enough.”

She explained that young people come to ask her advice about small pension pots and felt that the dashboard would be a “game changer” to see all your pensions in one place.

Scottish Widows workplace savings engagement and innovation specialist, Robert Cochran, echoed this by saying pensions dashboards were “revolutionary” and that he was “really supportive” of commercial dashboards.

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