ABI's Haddrill says Personal Accounts "not a tax dodge"

Speaking at Punter Southall’s ‘DC: Deceptively Complicated?’ pensions conference, Haddrill says the move is necessary because the Government has been “wildly over-optimistic about the level of participation expected”. He adds it should not expect to fall back on subsidies funded by the taxpayer to achieve the 0.3% management fee target. Haddrill told the annual conference, attended by 150 pension fund delegates, that the annual contributions cap for Personal Accounts should be no more than £3000. He says this is crucial to ensure Personal Accounts serve their purpose of providing low co...