Government to choose providers for DWP 'NPSS'

At a private meeting on Monday between DWP officials and members of the pensions industry, four models for a low cost savings scheme were shown to the group to discuss the advantages and disadvantages of each. The DWP Industry Model, which is described as a variation on the Association of British Insurers (ABI) Partnership Pensions model, apparently offers more choice than other models, with the Government setting up a panel of providers to administer the funds. It suggests having a Government clearing house to act as a ‘policeman’ and collect the contributions from employees and empl...