The UK chief executive of Aviva has said discussions with government ministers had revealed the ‘mammoth’ task of Brexit, and said it meant there would be far less change in pension policy than previous years.
Speaking at the Marketforce conference Andy Briggs (pictured) said the complexity and scale of the Brexit process means the pension industry will have to fight to get the things its wants included on the government’s agenda. he warned this will be a difficult task.
‘I was at a round table yesterday with [chancellor] Philip Hammond and [Brexit minister] David Davis and what really struck me was what a monumental task they have ahead of them in executing Brexit,’ he said.
‘Take something like Solvency II, to go through all of that tome of legislation and embedding that into UK legislation. And that is just one area, this has to go across all the different industries- the amount of things that need to be done is massive.
‘The key thing from that is whereas for the last few years in our industry we have seen an awful lot of new initiatives coming out of government, going forward government is going to be so busy that we are going to struggle to get what we want on the agenda. We are going to get far less new stuff.’
In october Briggs was appointed business champion for older workers, a new role created by the Department for Work and Pensions (DWP).
Source: City Wire