The Investment Management Association (IMA) has issued a press release stating that the Government is closer to implementing its plans for pension reform as the final rules for auto-enrolment have now been put through Parliament.

In response, Richard Saunders, Chief Executive of the IMA, said:

"We welcome the fact that the Government is maintaining the momentum towards the introduction of employee auto-enrolment into workplace pension schemes from 2012. This will be a significant step forward in extending the coverage of pension saving in the UK. While the scale of these reforms is inevitably creating some regulatory and operational challenges, we hope that full implementation can be achieved in an effective and timely manner."

View IMA responds to final auto-enrolment rules, 13 January 2010