Employers need £2bn to stop levelling-down

In its 57-page response to the pensions white paper on personal accounts, the NAPF says levelling down is still a strong possibility, and although the government has adopted a number of measures - including prohibiting transfers and a simple scheme exemption test – more needs to be done. The organisation is suggesting the government should set up a fund of around £2bn a year to offer practical support and encouragement to employers to keep their high value schemes. It proposes the establishment of a ‘Good Pension Fiscal Incentive’ which would provide employers offering schemes with high...