Government misselling Personal Accounts - report

In a report commissioned by the Centre for Policy Studies, former investment banker Michael Johnson suggests major reforms to Personal Accounts and the state pensions could create a more affordable pensions system which ensures an adequate level of provision for all. The report, Don't let this crisis go to waste: a simple and affordable way of increasing retirement income, Johnson says the current Personal Accounts structure is ‘fundamentally flawed'. The ‘spectre of means testing' is a huge disincentive to pension saving, Johnson says, and means many who will save into Personal Accou...