Fidelity proposes hybrid Npss

With the consultation on the pensions white paper scheduled to close today, Fidelity has come up with an alternative model, called the ‘Open Personal Account’, which combines the best aspects of the models provided by the Pensions Commission in the National Pension Savings Scheme (Npss), and those from the Association of British Insurers (ABI) in its ‘Partnership Pensions’. The model would have a central clearing house for the collection of payments to make administration easier for the employer, but Fidelity suggests after that the employee can go in two different directions. If they...