Personal accounts ridiculous says Standard Life

In its submission to the consultation on the pensions white paper, Standard Life, says a sizeable part of the target market for personal accounts, around 60%, will lose both their employer contributions and tax relief through means-testing, making it unsafe for them to join. John Lawson, head of pensions policy at Standard Life, says for a potential provider of personal accounts to admit this is very difficult, but he says it would be wrong to bring these people into the system. He says: “This would not be treating customers fairly, and we just can’t bring them into personal accounts, a...