Making sense of the draft rules for personal accounts.
Personal accounts are the government's key initiative to help those with no access to a workplace pension save for retirement. In principle this is a great idea, but I do have concerns that they are very basic and are not making any allowance to actually engage with people. People are automatically enrolled, but do they really understand what they have been enrolled in? To make this scheme a success members need to be engaged and that requires successful communication. Something pension providers have been working hard on and could help the government with. In April, DWP published draft ...
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