Pensions bill could highlight personal accounts 'conflicts'

The provider says an outline of the PADA’S structure and objectives could provide the bill’s most interesting reading. Rachel Vahey, head of pensions development at Aegon, says any hopes in the bill that PADA will become financially independent will contradict Pensions Minister Mike O’Brien’s claims that personal accounts will “complement rather than compete” with existing pension schemes. She says the bill could also include raising the contribution limit for personal accounts from £3,600 to £10,000 in the year following the scheme’s 2012 introduction, and address pension scheme exemptio...