Why a lack of detail is holding up the defined ambition debate

Today, the Queen set out the government's legislative plan. Pensions were expected to take centre stage, with proposals for collective defined contribution schemes expected to be announced. 

However, if you blinked, you may have missed the mention of pensions in the Queen's Speech. "My government's pension reforms will also allow for innovation in the private pensions market to give greater control to employees," the sovereign said. 

But what could be hiding behind that catch-all term "innovation"? If you look at the background documents of the Queen's Speech, there is mention of "collective schemes" in the private pensions bill. 

Source: Prime minister's office

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