Treasury rejects early access to pensions

The announcement follows a government consultation on early access in which serious concerns over early access were raised by the National Association of Pension Funds and the ABI. Treasury officials say early access will not be considered as an option because there is not enough evidence that early access will improve pension contribution levels. There are also concerns implementing early access before or at the same time as auto-enrolment would create complications. "We will work with industry to develop workplace saving to supplement pension savings," says Mark Hoban, financial ...