The Personal Accounts Delivery Authority and department for work and pensions have gone out to consultation on the draft scheme order and rules for personal accounts.
The joint consultation proposes setting up a trustee corporation - made up of between nine to 15 members - to govern the scheme. It also proposes setting up a members' panel and an employers' panel to provide a member and employer viewpoint to the trustee and "act as a sounding board" for ideas and suggestions proposed by the trustee. However it said including member nominated-nominated trustees would prove a "costly and ineffective mechanism for representing members' views" - noting the members' panel would participate in the recruitment and selection process for all members of the trust...
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