Purnell hits out at Npss mis-selling fears

In his latest blog entry on the Department for Work and Pensions (DWP) website, James Purnell, minister for pensions reform, claims recent reports suggesting personal accounts or the National Pension Savings Scheme (Npss) is ‘flawed’ are “both misleading and inaccurate”. He challenges, in particular, claims suggesting means-testing effectively results in lower-income earners being charged higher rate tax - of 40% - on their savings and Purnell says it is “simply untrue to describe Pensions Credit as a 40% tax”. He also says under the pensions white paper proposals the “vast majority of pe...