The Department for Work and Pensions has developed proposals for a private sector alternative to the National Pension Savings Scheme (NPSS) which is said to be modelled on those presented by the Association of British Insurers.
DWP officials attending a meeting, held as part of the National Pensions Debate, met with a group of industry practitioners including insurance companies, IFAs, fund managers, pension funds and third-party representatives to discuss the pros and cons of the options put forward for running a national low-cost savings scheme. The focus of the meeting - entitled “Delivering Personal Accounts” - was the NPSS, with the attendees, including Stephen Timms, minister for pensions reform, split into small discussion groups to look at four options being put forward. They were the NPSS as proposed ...
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