The Association of British Insurers will be presenting its alternative to the National Pension Savings Scheme to the government in the next few weeks although many are still unsure of the ultimate outcome of the exercise.
A written response summarising the model will be submitted to the Department of Work and Pensions (DWP) on Friday 10 February, with a meeting scheduled for the week after and a joint event hosted by the ABI and DWP at the end of the month. But sources close to the industry think the exercise is flawed, with too much time and money spent on proving an alternative to Turner’s NPSS can be done, instead of focusing on whether it is actually the right route to go. A report published this week by Cazalet Consulting: Polly Put the Kettle On, also criticises the NPSS, claiming that the “ghastly...
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