£3,000 Npss cap 'sufficient' for low earners - PPI

The latest briefing note from the Pension Policy Institute (PPI) looks at the issues surrounding the contribution cap for the new system of personal accounts after the Government suggested in its December white paper the cap should be £10,000 in the first year of operation, and £5,000 in each following year. However, as this was higher than the £3,000 limit suggested by the Pensions Commission many parts of the industry have argued against the higher cap on the basis it would have a negative impact on existing pension provision. But the research from the PPI reveals the level of contri...