The National Association of Pension Funds (NAPF) is to rename itself as the Pensions and Lifetime Savings Association (PLSA).

The new Pensions and Lifetime Savings Association (PLSA) will be open to a broader membership than previously and will consider alternative routes to building retirement income other than just pensions.While the number of active defined benefit scheme has steadily declined in recent years the NAPF focused more on defined contributions schemes, particularly in the wake of auto-enrolment. The pension freedom reforms, announced in the 2014 Budget and which came into force this year, have further opened up the retirement savings market.

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