To help savers make the most of their newfound freedoms and avoid becoming a victim of thieves the NAPF
has three guiding principles.
But Graham Vidler, director of external affairs at the NAPF
, said said N that, while people would be able to get their hands on their money next year, "the challenge is that people have been told they will be able to use their pension like a bank account.
, which represents 1,300 schemes that provide pensions for more than 17 million people, said in its submission to MPs overseeing the Pension Schemes Bill that many questions over the reforms are yet to be fully answered.
's Workplace Pensions Survey 2014 found young people to be the most likely group to save into a pension in the wake of the Budget.
The second report from the NAPF
said independence would complicate cross-border pensions.
During my tenure at the NAPF
the greatest pressure has been about how to get out of the tough economic conditions that have been created for us, and that has meant having to move and adjust quickly.
Higher liabilities created by quantitative easing and low gilt yields have prompted a "barrage" of closures, said the NAPF
Richard says the NAPF
report estimates that each annual legion of pensioners loses, in total, around pounds 500m-pounds 1bn in potential lifetime income by making the wrong decisions at retirement.
Joanne Segars, chief executive of the NAPF
said that people need their faith restored following the economic downturn.
A survey by the NAPF
has found that a quarter of members who responded said they would stop current contributors saving into the schemes in the next five years.
And the National Association of Pension Funds (NAPF
), which is advising the Government on implementing the scheme, has now asked Secretary of State for Work and Pensions Alan Johnson for more cash.
Some eight million pensioners, currently receiving less than pounds 105 a week from the state, would immediately gain, the NAPF