**NPSS would cut out IFAs - Hutton

Answering questions after giving a speech to think tank the Work Foundation, Hutton has said there was "compelling evidence" the 0.3% annual management charge set out by the head of the Pensions Commission, Adair Turner, was a “reasonable aspiration” and that: “The purpose of the NPSS is to reduce the costs by removing expensive highly tailored independent financial advice”. He also blamed IFAs for the failure of the Stakeholder pension saying financial advice was: “one of the reasons the stakeholder charges were not below 1%.” Hutton has also said the government is already in discussi...