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Bee slams Turner’s low cost scheme

Steve Bee has slammed Turner’s proposals for a low-cost National Pension Scheme, describing it as ‘privatised welfare’ and careless in its disregard for advice.
The Scottish Life head of pensions says the scheme ignores the need for advice and pre-supposes the pension is a suitable investment.
He said the scheme will polarise the market with providers concentrating on the voluntary post-A day sipp market rather than the low level Turner market.
Bee says: We are not interested in pensions without advice which I see as careless. We do not want to be distributing on mass something that is effectively privatised welfare.

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