During a recent debate in the House of Commons, the secretary for work and pensions, John Hutton, has said that automatic enrolment into pensions could reduce the high costs that providers charge.
He also said that the Government is to introduce a series of 'radical and far reaching reforms' to the pension system, and praised Lord Turner, whom he said had 'made a number of specific proposals for a new national pension savings scheme'.
Our view
A compulsory pension fund is on its way - whether you like it or not - you will be forced to save in a pension if you do not already. We believe though that this will not make more people save, it will merely mean thet redirect savings that would have gone elswhere into pensions.
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