Following the Chancellor’s Autumn Statement (Nov ’23), Bravura was delighted to respond to the Department for Work & Pensions’ (DWP) Call for Evidence on the Pot for Life initiative.
As a provider of administration and automation systems to pensions, wealth, superannuation, life insurance, fund management and transfer agency markets in the UK, South Africa, Australia, and New Zealand, we have an unparalleled level of experience into how the potential benefits and drawbacks of these systems, including a Pot for Life – otherwise known as stapling in Australia.
In our response we discuss how we firmly believe that the UK can learn and adapt from overseas markets to improve the current fragmented system that underserves so many savers and limits competition, innovation and the outcomes for many people.
Ultimately, we believe that technology can lift the burden and cost for employers and UK pensions industry, which has historically been glacial to adopt new technology and reform. A new customer-centric, technology-led approach can set the UK up for the next one hundred years.