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Carrot tops for pension policy

The ABI has a plan to defuse the pension timebomb, trying to silence the calls for compulsory pensions by suggesting a carrot approach instead. It says by encouraging employer contributions through improved tax incentives, the £27bn savings gap can be cut by 10 per cent a year.

It is about time that someone at least considered alternatives to compulsion, which faces resistance from employers and employees alike and could be politically damaging to a newly vulnerable Government.

If pension policy is a mess, then it should be sorted out here and now without relying on the Government forcing people to save, which would require it to admit that the host of reforms since 1997 have failed. And, as any fool knows, carrots are always more politically acceptable than sticks.

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Pension freedoms: stop the scams

At the beginning of 2015, we highlighted that the new pension freedoms that come fully online on 6 April also represent a very attractive opportunity for the criminal fraternity to scam savers out of some, or all, of their accumulated retirement savings.

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