NAPF to consult on cutting pensions red tape

The National Association of Pension Funds (NAPF) will publish a list of pension legislation it thinks should be scrapped in the new year.

The association is responding to the government's "Red Tape Challenge" with an internal consultation on cutting legislation around pensions.

"There is no shortage of stuff for the government to get its teeth into when it comes to cutting back and simplifying regulation," said Joanne Segars, chief executive of the NAPF.

"Part of our job will be helping the government meet its Red Tape Challenge, and holding the government to account to make sure it delivers."

Segars said NAPF members have already recommended loosening requirements around accounting standards.

She added the NAPF will focus on regulatory reform that will help boost defined contribution saving and improve employee engagement with pensions.

There have been calls for a relaxation of pension regulation from others in recent weeks.

In October, a Cabinet Office report written by private equity millionaire Adrian Beecroft reportedly called for auto-enrolment to be delayed and several aspects of employment law, including that around maternity and paternity rights, to be relaxed.