Dear Editor, Reuters this week published news that the project to build the Government's new flagship 'personal accounts' pension scheme is already running horribly over budget. The original budget was a not-inconsiderable £500 million, but Reuters' sources confirmed that it has already risen to £2 billion - and that is before anyone has actually started to build anything. While B&CE is supportive of the concept of auto-enrolment and compulsory employer contributions at the heart of the personal account initiative, we are very worried about this news. Personal accounts must stand on t...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes