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Ritchie dismisses Government&#39s marketing ploy


Scottish Equitable&#39s pensions expert Stewart Ritchie has dismissed the Treasury&#39s plan for Pooled Pension Investments as a Government marketing ploy.


In the latest edition of The Ritchie Papers, he describes the Government the new vehicle as the &#34LISA let down&#34.


He believes the proposals originally dubbed the Lifelong Individual Savings Account, but now renamed the Pooled Pension Investment offers little more than what is already in existence.


Ritchie says: &#34The Government is making a number of claims about what the new investment vehicle will deliver, but in practice it is hard to see how these add anything to the options currently available.&#34


He also casts doubt on Government claims of lower costs suggesting it is debatable whether unit trusts and investment trusts offer lower charges than existing schemes.

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