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Private sector must be central to running of personal accounts scheme

Norwich Union head of pension strategy Graham Vidler says private enterprise should be central to running any form of national pensions savings scheme.

Vidler says: “The move towards personal accounts is a positive step. Norwich Union will work with the Government to ensure that the right balance is struck between value for money for the tax payer and value for money for the saver. But any new system must promote additional saving and complement existing
provision.

“Given the expertise and experience that exists, we believe that it is in
consumers’ interest for private enterprise to be central to the running of
these new personal accounts. We urge the Government to recognise the
benefits that choice and competition will bring to the millions of people
who will hopefully invest in them.”

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