Magazine article Public Finance

Consumer Groups Push for Pensions Input

Magazine article Public Finance

Consumer Groups Push for Pensions Input

Article excerpt

Consumer interest groups are pushing for a key decision-making role over the way that cash in the state-run Personal Accounts pensions scheme will be invested.

Work and Pensions Secretary John Hutton last week said the system, which will pool government, employer and employee contributions into pensions for people without current provision from 2012, would be a trust-based occupational scheme. A board of trustees will take ultimate responsibility for setting the strategic direction for the scheme from the collection of contributions to the investment of assets and payment of benefits,' Hutton told a National Association of Pension Funds conference on May 24.

As it will be a defined contribution scheme, members will assume the risk attached to any investment, making adequate representation of their interests vital. Many experts assume it would be split 50:50 between employer and employee nominees, as the government has pushed for a similar balance in other schemes. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.