Non-advice NPSS could lead to government mis-selling

In its submission to the Work and Pensions Select Committee’s inquiry into pension reform, which hears evidence on Monday, the think tank says the proposed NPSS does not provide an adequate answer to the question of post-retirement incomes. It claims the scheme will not work because of means-testing which would mean any extra income from the scheme would limit their rights to means-tested benefits, and leave them very little better off. And it warns it is wrong to pressure people into saving without ensuring access to financial advice, particularly in cases where there is existing debt ...