personal accounts

Around 15,000 women will fail to qualify for entitlement to the basic state pension, despite earning enough money from multiple jobs to put them above the Lower Earnings Limit, claims the Department for Work and Pensions.

The Thoresen Review needs to concentrate on five key areas for a national approach to generic advice, claims the Resolution Foundation.

The danger of ‘levelling down' existing pension schemes by making employer contributions compulsory in personal accounts may have been "overstated" claims Lord Turner.

The personal accounts delivery authority should consider using ‘target date' funds instead of a ‘life-styling' approach, for the default fund of the new system, claims a new report.

The potential risk of mis-selling personal accounts, particularly to women over the age of 45, has been dismissed by the government.

A former member of the Pensions Commission has backed the government's current proposals for personal accounts, including the suggestion to increase the annual contribution limit to £5,000.

The Department for Work and Pensions has started advertising for the chief executive of the personal accounts delivery authority, with the expectation someone will be in place by the summer.

Annual savings of more than £1bn resulting from the abolition of contracting-out should be used to encourage private saving, rather than subsumed into general government revenues, says the Association of British Insurers.

Over 90% of IFAs believe pensions, including personal accounts, cannot be distributed in the workplace safely if generic advice is the only available option.

The impact of means-testing on people saving in personal accounts might have been ‘underestimated', leading to potential 'mis-selling', warns the Association of Consulting Actuaries.