Pensions industry 'vested interests' hindering reform

Centre for Policy Studies research fellow Michael Johnson will release a paper next week with 104 proposals to improve the pensions industry, which he describes as “a shambles of deeply entrenched vested interests”. Johnson said the industry is in the “last chance saloon” of public opinion and must drive change that catalyses a savings culture in the UK or face the introduction of compulsion when auto-enrolment is reviewed in 2017. He said: “The report is saying to the industry: you have a five-year window and that’s it. You are going to have to transform yourselves in the next five y...