ABI rejects unlimited personal accounts contributions

The association rejected the idea of unlimited random top-up contributions at today's ABI Saver Summit, as it says employers would not match contributions. The comment, made by the ABI’s director general Stephen Haddrill, follows the announcement yesterday of the details of the Pensions Bill. The ABI also rejects the idea of a £10,000 special first year contribution, which the Bill does not rule out. Haddrill says: “They(top-ups) are clearly not suitable, to use the FSA’s language. They may have been carefully invested with advice and will perform relatively badly if removed. "Nobody wa...