Generic advice initiative will need more money

Speaking at a National Association of Pension Funds (NAPF) seminar on the design of personal accounts, John Lawson, head of pensions policy at Standard Life, says the taskforce to be headed up by Otto Thoresen, chief executive of Aegon UK, will have a budget of £50m. But he says in the details of the financial capability strategy released by Ed Balls MP, Economic Secretary to the Treasury, earlier this week, it was revealed £180m has been spent on providing five days of financial education in schools. And he says: “If £180m will only buy five days of education in a school, what will we ...