Personal account pension scheme 'welcomed'

Money News

www.moneynews.co.uk > Pensions > Personal account pension scheme 'welcomed'

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Personal account pension scheme 'welcomed'

The new personal account pension scheme, planned for 2012, has been welcomed by the Pensions Advisory Service (TPAS).

Des Hamilton, technical director for TPAS, said that the plan "will bring a lot of people into pensions" who might not have been making retirement provisions.

However, he also advised people to be aware of potential problems with the scheme by educating themselves about the issues involved.

"It's not a problem with the scheme; it's an inevitable consequence of having means tested benefits," he remarked.

Mr Hamilton added that people "will need very good information" about the issue of means tested benefits in order to make well-informed decisions.

The personal accounts system is aimed at the seven million Britons who are not adequately saving for retirement.

Government research indicates that private pension savings is lowest among low-income employees, younger people and women.
ADNFCR-323-ID-18412819-ADNFCR

Related News : Pensions

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet