Automatic enrolment (AE) into workplace pension schemes "takes away savers' choices, treats them like children and should be overhauled", according to a managing partner at True Potential.
Managing partner David Harrison said that the way that the government is attempting to make people save into AE schemes "treats savers like children and, as such, is ultimately likely to fail". "Saving into pensions of this sort, where people can't get access to their own funds for decades is unpopular. People no longer want to save this way. "I would challenge anyone to tell me that they know what a pension will look like in 20 years time, and frankly it is unwise to invest in anything when you don't know what the outcome will be," he said. Harrison argued that the savings gap i...
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