Gov't has 'moral responsibility' for Npss suitability

In its response to the pensions white paper: ‘Personal accounts: a new way to save’, the insurer warns “anyone using the power of inertia to populate a scheme has an overriding moral responsibility to ensure that the scheme is suitable for the potentially millions of people who will be joining it”. It argues personal accounts are not suitable for certain groups of people, including young people with families who would be better off with life cover and income protection, and those with high interest debt. In addition, L&G points out the interaction with State means tested benefits also af...