Government policy on personal accounts may have to be "revisited" if the Thoresen review into generic advice fails to identify a short, simple and easy to understand way of providing information on whether to opt-in or out of personal accounts, warns the Pensions Policy Institute.
In its response to the pensions white paper: ‘Personal Accounts: a new way to save’, the PPI says its research into the suitability of personal accounts has identified certain target group where people may be better off opting out of the new system. But it says although personal accounts are not suitable for everybody, this does not necessarily mean individuals should not be auto-enrolled and personal accounts do have “important implications for what information is needed to help people make informed decisions about whether they should opt out”. The independent think-tank says while som...
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