ABI demands Personal Accounts clarity

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The Association of British Insurers (ABI) has written to the Personal Accounts Delivery Authority voicing its concerns over Personal Accounts.

The letter, from Maggie Craig, director of life and savings at the ABI, to Paul Myners, chair of the Personal Accounts Delivery Authority, says the public needs clarity on the scheme, set to be rolled out in 2012. Craig says: “The Government says that personal accounts will ‘complement rather than compete’ with existing provision. It would really help to hear how you see this working in practice. "A clear understanding of how the new pensions environment will work is crucial to public confidence in the whole system.” She also says the authority must do more to ensure personal accounts d...

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