Turner says advice 'unnecessary in pensions'

Speaking at the London School of Economics, Adair Turner, chairman of the Pensions Commission, said the lack of advice in the NPSS should not be a cause for concern for intermediaries given many individuals in defined contribution (DC) pension schemes are already making adequate decisions on their own. He also described the proposals for the NPSS as the “biggest multi-employer DC scheme in the world, where we are taking the principles of a DC scheme and putting it on a national level”. And he added if intermediaries were worrying about consumers making decisions without advice in the NPS...