The new defined contribution pension has a schizophrenic character, warns Margaret Craig
It seems that the new defined contribution pension regime may turn out to have something of a split personality. On the one hand, we have the concept of stakeholder. It was originally intended as a cheap, simple and flexible arrangement to be offered via employers with the aim of extending funded pensions provision to more people, particularly the significant number of people in this country who are not saving for their own retirement. The other face of the new regime is very different. The new regime (and that means both stakeholder and personal pensions) offers new opportunities that wi...
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