Saga highlights pensions calculator 'technicality'
www.moneynews.co.uk > Pensions calculator > Saga highlights pensions calculator 'technicality'
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Saga highlights pensions calculator 'technicality'
Fri 3rd Dec 2010
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Director general of the company Dr Ros Altmann described it as "totally unacceptable" that members of a pension scheme could be refused entry to the programme, despite having spent years paying levies to the organisation.
She explained that loophole that has allowed the PPF to take this decision relates to the legal definition of an employer, with a distinction apparently drawn between a principal and sponsoring employer.
In her view, it is important that the state introduces legislation straight away to prevent more savers losing protection of their retirement savings.
"The PPF itself has simply offered the scheme's trustees a return of their levy payments and is trying to wash its hands of the situation," added Dr Altmann.
This week, the Saga chief responded to Saga research showing many over-50s lie to their GPs by saying that they may be more honest in a private online questionnaire.
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Related News : Saga |
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