Scottish Equitable's pensions expert Stewart Ritchie has dismissed the Treasury's 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 "LISA let down".
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: "The 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."
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.