The Government today promises personal accounts will "complement rather than compete" with existing pension provision.
In its response to a White Paper consultation on the new savings scheme, the Government says “a simple and straightforward exemption process for existing good quality employer pension schemes” will be just one way it intends to honour that promise. The Government also unveils details of the workings of personal accounts, set to be introduced in 2012, and says new research suggests the scheme has “overwhelming” support. Secretary of State for pensions John Hutton MP said on Monday personal accounts must complement existing good pension schemes and today the Government says it would. Minis...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes