The Association of British Insurers has "caved in" and agreed with proposals presented by the Pensions Commission, say intermediaires, in presenting its 'Partnership Pensions' alternative to the National Pensions Savings Scheme (NPSS).
While taking part in an adviser panel discussion at the launch of IFAonline TV, adviser Nick Bamford, managing director of Informed Choice, said the ABI had agreed with Turner’s proposals, which he descibes as being "fundamentally wrong", with the only disagreement being over price. He suggested the ABI had “completely caved in”, with the NPSS being just a distraction from the main pension issues, as is the discussion over the 0.3% annual management charge figures. The NPSS and the alternatives submitted by the ABI and the National Association of Pension Funds (NAPF), on Friday, are all...
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