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Personal Accounts consultation responses welcomed
The publication of feedback from the Department for Work and Pensions and Personal Accounts Delivery Authority's consultation on Personal Accounts has been welcomed by Which? and the Trades Union Congress (TUC).
Consumer watchdog Which? said the publication of feedback to the consultation was a further boost for the scheme.
Dominic Lindley, personal finance campaigner at Which? said: "This is another important milestone towards the establishment of personal accounts, which will help deliver a good-value, low-cost pension scheme run in the best interests of consumers.
"Personal accounts will help many more Britons save for a more secure retirement."
Brendan Barber, general secretary for the TUC, agreed, adding that the feedback would clarify the rules for employers and help the implementation of the scheme.
He said: "You cannot make employers enrol their staff into a pension unless you provide a low-cost default option for those employers that do not want to actively choose another pension.
"The millions of low to average earners that are not saving in a pension today need a low-charging scheme with a sensible default option specifically designed to meet their needs.
"'Agreeing the Personal Account scheme order and rules is another important part of building a new durable pensions settlement."
