THE HEAD of the UK's pension fund lobby has launched a stinging attack on the Turner proposals for reforming the pensions system, reports The Guardian.
According to the paper, Christine Farnish, chief executive of the National Association of Pension Funds (NAPF), described Lord Turner's proposal for a vast national pension fund as a "monolithic quango" and a "throwback to the Stalinist era" as she proposed an alternative strategy to encourage Britons to save. Farnish is preparing to tell the government that Turner's National Pension Savings Scheme - into which workers would be automatically enrolled - should be replaced by 10 or so "supertrusts" created to manage the pensions of millions of British workers. The NAPF, which represents...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
