The personal pension plan comes of age

pensions

With people living longer the need for effective direct contribution retirement vehicles is greater than ever

This year the personal pension plan is celebrating its 17th birthday. After its explosion on to the market in 1988 and the fireworks of the mis-selling scandal of the early 1990s, it is finally reaching maturity. Fashions come and go but the need for robust defined contribution (DC) retirement vehicles in the retail and corporate market do not; rather the opposite is true. With retirements now lasting 20 to 30 years, and the basic state pension dwindling due to its link to price rather than earnings inflation, the government has much work to do in reforming the interaction of complex mean...