NU to lobby for double NPSS charge - papers 17th March

Gary Withers, chief executive of Norwich Union Life, will tell the government insurers “cannot be expected to run the scheme at a loss” and suggests the national pensions savings scheme should be charged at 0.6% of contributions, rather than the 0.3% proposed by the Pensions Commission, says the Times. NU also wants the number of providers of NPSS savings accounts limited to 12, despite the ABI’s suggestion even new entrants to the savings market should be permitted to offer the products. FINANCIAL PRODUCTS designed to profit from companies' pension problems are proof that the crisis i...