Standard Life slams Pensions Bill

The Bill says PADA would operate personal accounts but would also set the test by which good schemes become exempt. John Lawson, head of pensions policy at Standard Life says: "This is a clear conflict of interest. Suspicions were raised when Paul Myners gave evidence to the Work and Pensions Select Committee on 17th October - these suspicions are now confirmed by plans to turn this conflict of interest into law. “If PADA is to have a duty of good faith towards existing schemes, where are the targets? For example, should PADA have a target to ensure that over 90% of good schemes remai...