Are personal accounts going the way of the Olympics?

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...