The potential risk of mis-selling personal accounts, particularly to women over the age of 45, has been dismissed by the government.
Speaking at a seminar hosted by Scottish Widows entitled “Does the white paper deliver?” Baroness Hollis pointed out with personal accounts the advice process for young people could be quite simple, with the possibility of straightforward box-ticking covering debt repayment and affordability. However, she suggests people aged over 45 present a grey area, particularly in relation to women as they will be unable to predict whether they are still in a relationship at the time they retire. Hollis warns: “Those at most risk are those with co-habitation issues, as if a woman is solo she is go...
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