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Green Paper no encouragement to new savings – Scottish Widows

The Department for Work and Pensions Green Paper does nothing to encourage people to buy pensions says Scottish Widows.

Applauding the Inland Revenue taxation simplification proposals, Scottish Widows says failure to address the complexity caused by means-tested benefits means private provision will not increase.

Scottish Widows pensions strategy manager Ian Naismith says: “The Green Paper doesn&#39t grasp the issues that encourage people to save more. The industry feels the Government hasn&#39t cracked the State pension yet, but the Government does.”

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