STEVE Bee, head of pensions strategy at Scottish Life, has suggested the Pensions Bill should be frozen while the Government researches people's saving habits and how auto-enrolment into the proposed personal account scheme may effect them.
The findings from the research are currently slated for publication towards the end of the year, after the introduction of the Pensions Bill. Means-testing as a mechanism for auto-enrolment has been an industry-wide point of contention throughout the Bill's consultation process as it will fail to benefit those who have saved for retirement. Bee commented: "It will be easy for people to work out that the scheme doesn't provide good value for money and they won't stay in it. "I would have thought it better to put the Bill on the back burner while the Government goes away and checks just...
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