The introduction of a National Pension Savings Scheme (NPSS) "would be a disaster" unless public apathy towards saving is tackled ahead of concerns about the cost of the scheme, claims Winterthur Life.
Speaking earlier today at the Institute of Economic Affairs (IEA) 9th annual conference: The Future of Life Assurance, Mike Kellard, chief executive of Winterthur Life, argued the current NPSS debate is focusing on the wrong issue as he said while all the things being discussed about cheap, simple schemes are “all very laudable”, he believes key considerations are being addressed in the wrong order. Kellard suggests the main problem which needs to be tackled is the apathy of the general public towards pensions, and the lack of education and advice they receive. Instead, he argues "people...
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