The National Association of Pension Funds (NAPF) has morphed into the Pensions and Lifetime Savings Association.
Joanne Segars, Chief Executive, announced the change yesterday at the NAPF Annual Conference & Exhibition which is being held in Manchester.
In a statement, the purpose of the new Association was spelt out: “The purpose of the Pensions and Lifetime Savings Association is to help everyone achieve a better income in retirement. It will speak for all of the workplace pensions community; look beyond pensions and also speak about lifetime savings; and support savers.
“The Pensions and Lifetime Savings Association (the Association) builds on a 90-year history of helping pension professionals run better pension schemes and allows the organisation to broaden further its reach and influence.”
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.
“But some things remain the same – for nearly everyone it takes time, often a lifetime, to build up savings for retirement. And for our members, old and new, from the biggest defined benefit schemes to the smallest and newest automatically enrolled employers, and those schemes’ members, young and old, we want to make that process as straightforward, efficient and clear as we can.
“This is the start of an exciting new period in our Association’s history. Our depth of expertise and credibility have served our members well for over 90 years; and these same strengths allow us to respond positively to the immense changes we’ve seen in our sector in recent times. Our new identity has its roots in our heritage. We’ll still do what we’ve always done – help schemes help their members save confidently for retirement – but our new identity allows us to share our knowledge and expertise directly and readily with more schemes and more savers.
“Of course, we couldn’t do this without the support of our existing members who have encouraged us to be bold and do more. And as we build on our new identity you’ll see us embrace a wider membership and turn our skills and attention to the several ways in which people build up their lifetime savings so we can help them achieve a better income in retirement.”