It is now almost four and a half years since Adair Turner laid out the Pension Commission's recommendations for a new policy direction for both State and private pensions.
In that time the world has moved on considerably. The UK is slowly and precariously emerging from recession, and there is a huge political need to reduce our nation’s borrowing. However, in the meantime Turner’s plans are continuing apace. Automatic enrolment has the legislative sign-off and the NEST scheme is currently being developed. At the time of writing, we are expecting an imminent announcement from the Department for Work and Pensions (DWP) on the charging shape for the NEST scheme. PADA held a consultation in early 2008 and narrowed down the choice to a flat annual management ch...
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