Industry responses warn of risks from Npss

In its response to the consultation on the pensions white paper, Legal & General warns of the problems personal accounts could do to existing pension provision if they are made too complex or try to mimic the products already available in the current pensions market. Meanwhile, Royal London, the parent company of Scottish Life, points out the issue of suitability has not been properly addressed, as the benefits of employer contributions still do not make the system suitable for everyone, particularly with means-testing still a large part of the state pension. Gareth Evans, head of cor...