Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • October 2015
10

NAPF rebrands to widen membership

Open-access content Friday 16th October 2015 — updated 5.50pm, Wednesday 29th April 2020

The National Association of Pension Funds (NAPF) has rebranded itself as Pensions and Lifetime Savings Association (PLSA) to “embrace a wider membership”.

2

The organisation said the decision was a response to recent changes in pensions such as automatic enrolment and pension freedoms, though critics have described the move as a "land grab" to become the "pre-eminent voice for the retirement and savings industry". 

PLSA said membership was growing "both in numbers and scope" and it would look at ways to cover other areas including ISAs, equity release and long-term care, and help people save more for retirement.

Chief executive Joanne Segars said: "Retirement simply doesn't look like it used to - today people work later in life and they fund their retirement in all sorts of ways. The lines are blurring between work and retirement, between pensions and other forms of saving and between scheme and saver responsibility."

Tom McPhail, head of retirement policy at Hargreaves Lansdown, described the move as "an unashamed land-grab" while other financial bodies were suffering a "collective crisis of identify". 

He said the Association of British Insurers (ABI) had lost two members and Dan Godfrey had left his role as chief executive at the Investment Association (IA).

"The financial services industry's trade bodies seem to be suffering a collective crisis of identity as they all try to reassert their relevance in a very fast-changing world. This announcement also comes hard on the heels of Dan Godfrey's defenestration from the IA and the departure of L&G and Aegon from the ABI," he said. 

"It looks like an unashamed land-grab as the NAPF bids to establish themselves as the pre-eminent voice for the retirement and savings industry. It is also symptomatic of the blurring of the boundaries between pensions and other savings arrangements in the retirement planning landscape. From a consumers and policy-makers point of view, the critical question is whether the industry is putting its customers' interests first."

Alan Rubenstein, chief executive of the Pension Protection Fund, welcomed the announcement and was confident the new organisation would "remain a powerful voice of reason in the UK retirement savings arena". 

This article appeared in our October 2015 issue of The Actuary .
Click here to view this issue

You may also be interested in...

2

UK government criticised for shelving 'group' DC pensions

The UK government has been criticised for putting on hold proposals to implement a system of “collective defined contributions” (CDC) pensions.
Friday 16th October 2015
Open-access content
ta filler

More than a third of people approaching retirement 'ignorant' of pension value

More than a third (35%) of people aged between 45 and 64 have no idea what their workplace pension is worth, according to research.
Thursday 15th October 2015
Open-access content
2

Regulator publishes details of suspected £13.7m pension scam

The Pensions Regulator (TPR) has published details of three trustees who were deemed to have “misappropriated scheme funds and exercised poor trustee governance” in a suspected £13.7m scam.
Tuesday 13th October 2015
Open-access content
2

Pension reforms risk being "next major pensions mis-selling scandal", warn MPs

The new “freedom to choose” reforms introduced in April 2015 are “insufficient” and people must have the ability to make a “well-informed choice”, the Work and Pensions Committee has said.
Monday 19th October 2015
Open-access content
2

Government launches state pension top-up scheme

A new scheme has been launched today by the Department for Work and Pensions (DWP) to help savers increase their state pensions by up to £25 a week in exchange for a lump sum payment.
Monday 12th October 2015
Open-access content
2

'Triple lock needs to end'

The UK government has been urged to get rid of the triple lock pension policy by the Institute of Fiscal Studies (IFS).
Wednesday 21st October 2015
Open-access content

Latest from Pensions

ers

By halves

Reducing the pensions gap between men and women is a work in progress – and there’s still a long way to go, with women retiring on 50% less than men, says Alexandra Miles
Thursday 2nd March 2023
Open-access content
rdth

Make My Money Matter's Tony Burdon on the practical power of sustainable pensions

Years working in international development showed Tony Burdon, head of Make My Money Matter, that sustainable pensions can harness trillions of pounds to build a better world – at a scale governments and charities can’t. He talks to Travis Elsum
Wednesday 1st March 2023
Open-access content
KV

Liability-driven investments: new landscape

What now for liability-driven investments, after last year’s crash in the market? Pensions experts Rakesh Girdharlal and Moiz Khan say it should lead to a more balanced approach
Wednesday 1st February 2023
Open-access content

Latest from October 2015

London busy

UK population to reach 74.3 million by 2039

The UK population is estimated to increase by 9.7 million to 74.3 million in mid-2039, according to official figures.
Friday 30th October 2015
Open-access content
A piggy bank and a calculator © Shutterstock

Cost of financial advice needs to be 'radically reduced'

Citizens Advice is urging a UK government review to explore how to radically reduce the costs of advice for people who don't have a big budget for help.
Friday 30th October 2015
Open-access content
2

'Concerning' gaps in pension trustees' knowledge, says regulator

Larger pension schemes are more likely to be well governed than small and medium-sized schemes, according to research.
Thursday 29th October 2015
Open-access content

Latest from small_opening_image

2

COVID-19 forum for actuaries launched

A forum for actuaries has been launched to help the profession come together and learn how best to respond to the deadly coronavirus sweeping the world.
Wednesday 25th March 2020
Open-access content
2

Travel insurers expect record payouts this year

UK travel insurers expect to pay a record £275m to customers this year as coronavirus grounds flights across the world, the Association of British Insurers (ABI) has revealed.
Wednesday 25th March 2020
Open-access content
2

Grim economic forecasts made as countries lockdown

A sharp recession is imminent in the vast majority of developed and emerging economies as the deadly coronavirus forces businesses to shut down across the world.
Tuesday 24th March 2020
Open-access content

Latest from 10

London busy

UK population to reach 74.3 million by 2039

The UK population is estimated to increase by 9.7 million to 74.3 million in mid-2039, according to official figures.
Friday 30th October 2015
Open-access content
A piggy bank and a calculator © Shutterstock

Cost of financial advice needs to be 'radically reduced'

Citizens Advice is urging a UK government review to explore how to radically reduce the costs of advice for people who don't have a big budget for help.
Friday 30th October 2015
Open-access content
2

'Concerning' gaps in pension trustees' knowledge, says regulator

Larger pension schemes are more likely to be well governed than small and medium-sized schemes, according to research.
Thursday 29th October 2015
Open-access content
Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Senior Pricing Associate

Scotland / England, London
Up to £60000 per annum
Reference
149081

Outside IR35 - Reserving Contract - 6-8 months

London (Central)
Daily rate contract - outside IR35
Reference
149079

Actuarial Analyst - Longevity Reinsurance

England, London
Up to £55000 per annum
Reference
149080
See all jobs »
 
 
 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2023 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ