Call out the instigators

henry tapper

13 years ago

The Office of Fair Trading has decided to get stuck into workplace pensions.

Pension people fight grimly on like townspeople uner siege in the 100 years war. The OFT is the invincible siege engine wheeled to the gates.

In August this year, the OFT report will be published;

the townspeople have over six months contemplate the carnage that will “ensue”.

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The market study will focus on value for money and the size of pension pot savers end up with at retirement. It will look at the following:

How pension providers compete with one another and how the market may develop over time.
Whether there is sufficient pressure on pension providers to keep charges low, and the extent to which information about charges is made available to savers.
Whether smaller firms face difficulties in making pension decisions in the interests of their employees.
Whether smaller firms receive appropriate help and advice in setting up and maintaining workplace pension schemes.
Barriers to switching between schemes and a potential lack of ongoing employer engagement in setting up and managing pensions.

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