Personal Accounts consultation launched

The Government scheme, designed to boost the pension savings of Britons and set to be introduced in 2012, will see workers aged between 22 and state retirement age who are earning more than £5,000 a year automatically enrolled into PA or a suitable work-based pension scheme. Workers will put in a minimum of 4% of their salary, the employer a minimum of 3%, and there will be 1% from the Government in tax relief. However, the scheme has been criticised with some arguing the Government will not grow UK pension provision in the way it hopes. Others have labeled Government targets both "unam...