Npss should have subsidised generic advice

In its submission to the consultation on the pensions white paper, which closes on Monday, Aegon says the government should look at pension reform in its wider context to avoid undermining its own policy objectives. It is particularly concerned about the problem of employers running existing pension schemes ‘levelling down’ to the 3% minimum contribution level of personal accounts, and the need to improve financial capability and awareness, particularly among lower earners. To avoid widespread opting out of the scheme, Aegon believes the government should tackle softer behavioural facto...