Government has learnt nothing from failure of stakeholder pensions

The abject failure of stakeholder pensions has taught the Government nothing about the difference be...

The abject failure of stakeholder pensions has taught the Government nothing about the difference between information and advice, judging by the evidence of May's white paper. Stakeholder was heralded as a pension for lower earners, but advice was largely excluded from the concept as a result of the charge cap. The vast number of shell schemes in place stand as evidence of its failure. By following Adair Turner's recommendations for a national pension scheme, the government seems to have forgotten the mistakes of the past and is well on the way to repeating them - a situation that could l...