Gov't subsidy of Npss policy is not 'inappropriate'

Responding to amendments put forward during the committee stage of the Pensions Bill, which will introduce State pension reforms and a personal accounts delivery authority, Purnell stated as at this stage “the authority will merely advise the government, so the question of spending costs on personal accounts is theoretical, not practical”. The amendments, tabled by Nigel Waterson MP, Conservative Shadow Minister for Pensions, at the “behest” of the Association of British Insurers (ABI), were designed to tackle the possibility of cross-subsidisation in the setting up of personal accounts, ...