Ringing in the changes to pension saving

The Government has just issued its most recent attempt at pensions reform with December's Pensions Bill. But will this deliver the desired result - to increase the number of people saving - or will it injure effective schemes already in existence?

The Pensions Bill, issued early in December last year, is another step along the path to pension reform. The Bill means all employers will have to enrol most of their staff automatically into either a personal account or an alternative good-quality scheme from 2012 onwards - doing nothing will not be an option. The potential for more than seven million new pension savers is the primary focus of the Bill, but it is crucial the Government ensures personal accounts do not unnecessarily affect good-quality existing schemes. Personal accounts One significant issue involves the personal a...