Purnell admits Npss preparation will be subsidised

Speaking at a National Association of Pension Funds (NAPF) seminar into the design of personal accounts, Purnell stated the new scheme is aimed at a specific target market of those without adequate provision or access to a good workplace scheme, and says personal accounts are designed to “fill a gap in the existing market, not replace it”. However, when questioned about the possibility of an "uneven playing field" around the costs of running personal accounts, in particular with regard to a statement made in the recent white paper which suggests the government may subsidise the scheme, Pu...