Actuaries attack PPF

In a written letter to the Secretary of State for Work & Pensions Andrew Smith, four senior UK actuaries say the government must ensure pensions savers know exactly how the PPF is going to work if it wants to avoid repeating past mistakes. Institute of Actuaries president Jeremy Goford and president-elect Michael Pomery, and Faculty of Actuaries president Tom Ross and vice-president Harvie Brown say the fund requires clear objectives to avoid confusion. In their letter to the Smith they state: "The outline in the Pensions Bill suggests that the PPF will operate like a pension fund...