'Light touch' regs needed to make Npss 'fair'

In its response to the pensions white paper: ‘Personal accounts: a new way to save’, the ABI has raised a number of issues with the proposals which it says at the moment will threaten the existence of the current pensions market. The organisation points out regulation should not be an obstacle to consumers starting to save now, before personal accounts are introduced in 2012. But it argues existing FSA regulation puts high costs on the existing pensions market, as financial advisers must establish ‘suitability’ before they can sell a pension, including the continuing requirement under ‘...