Workplace financial advice is needed if the NPSS is to succeed

pensions

There are a number of potential problems with the proposed NPSS, including the lack of support for employers to provide financial education and advice in the workplace

On 25 May the government trumpeted its White Paper on pension reform, presenting its proposals as: "a bold new pensions settlement designed to enable people to plan ahead and save more for their retirement." It claims that the proposals are for the future and will provide the infrastructure for the system for the next forty years. Central to the new proposals is the National Pensions Savings Scheme (NPSS) originally proposed by Lord Turner's Pensions Commission. The NPSS, due to be introduced in 2012, proposes a form of soft compulsion to force employers to contribute to a pension scheme ...