NPSS should combine US and Swedish-style systems

pensions

adair turner wants us-style core range of funds combined with swedish open access system

The National Pensions Savings Scheme (NPSS) should combine elements of Swedish and US systems to avoid becoming politicised, Adair Turner has claimed. Speaking before the Treasury Select Committee, the Pension Commission chairman said that, while the NPSS will offer a basic choice of between five and 10 funds, as under the US Federal Thrift Saving fund scheme, there should be scope to look outside these via an open access system, as in Sweden. Turner added: "One of the reasons we have suggested this is that if you only have a core range of funds, there will be extensive political debates ...