The Association of British Insurer's (ABI) alternative to the National Pension Savings Scheme (NPSS) would aslo eliminate the need for advice based interviews, Lord Turner told the Treasury Select Committee today.
The Chairman of the Pensions Commission said there was “more commonality than difference between the two models”, suggesting the choice was between the ABI’s Partnership Pensions and the NPSS, as the National Association of Pension Funds’ (NAPF) proposals for Super Trusts was “off at a tangent”. He said in the nature of design and the cost assumptions, there was more similarity between the two models and the current products on the market. Turner stated: “What the ABI is trying to do is eliminate commission based salesman, as that is where a lot of cost is coming from in the form of com...
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