Proposals in the Pensions Green Paper for a committee to monitor the case for introducing compulsion...
Proposals in the Pensions Green Paper for a committee to monitor the case for introducing compulsion is likely to get the cold shoulder from most UK workers according to survey results that show most Britons dislike talk of financial compulsion.
Halifax division Birmingham Midshires says 95% of the roughly 1,000 people surveyed in its "Saving Britain" campaign expressed fears about compulsion tying up large amounts of their own money over the long term.
BM's survey, which took in a representative sample of the population, suggests people are getting more concerned about compulsion in tandem with growing fears about a "pensions crisis".
The problem with compulsion, BM adds, is that while people want more flexibility to get themselves out of a crisis situation, imposing compulsion leads them to fear loss of control.
Perceptions are that compulsion limits options, and in the case of pensions forces people "to invest money that not everyone can afford".
Partner Insight: For Blackfinch, the arrival of its IHT portfolio services was a 'natural evolution' in the group's offering and points to an established track record of returning cash to investors.
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