Fears over 'unfettered power' of personal accounts trustees

The remit of the personal accounts trustee board appears to give "unfettered power" to the scheme trustees, Bluefin warns. In its response to the consultation on the draft scheme order and rules for the national pension saving scheme the consultant said neither the employers' nor the members' panel appear to have any real power to effectively monitor the actions of the trustee. Bluefin head of actuarial Jim Boyle says: "As constituted they appear little more than window-dressing." Bluefin argues that unless The Pensions Regulator or secretary of state for work and pensions took an ...