Question: What is the estimated time between payment of a contribution and its investment? How does this compare with the similar existing European schemes?
Edmnd Downes, Norwich Union: I'm not quite sure that I understand the question. Personal Accounts will be governed ultimately by the same laws which govern the payment and application of contributions as any other UK occupational pension scheme. I haven't seen any fine level of detail yet so I don't know what will be the content of service level agreements between the contribution or payment collection "hub", the scheme administrator and the investment providers. However, realistically we would expect payments to translate into investments within at most a few days from the date that the s...
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