Scottish Widows says the Government must ensure it makes exemption rules for existing pension schemes clear and simple to operate.
The provider's comments follow the Pensions Bill, which the Government published earlier today, outlining proposals for personal accounts. Scottish Widows highlights three areas of concern including urging the Government to run a straightforward enrolment processes for group personal pensions. The provider also says the Government must not subsidise personal accounts as doing so would make charges on the schemes artificially lower than those of other pension schemes, giving personal accounts an unfair advantage. Lastly, it says the reforms must create a level playing field between the P...
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