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Timms challenges industry to come up with alternative to Turner’s NPSS

Minister for Pensions Reform, Stephen Timms today challenged the pensions industry to work up the details of an industry-led alternative model to Turner’s National Pensions Savings Scheme.

Speaking at the ABI Savers Summit in London Timms said that the Government welcomes the broad framework of the Pensions Commission’s proposals and options and that they are the right basis for the debate to come. But he said that there is much to be discussed and decided in relation to the detail of that framework – and one such area is the idea of personal accounts.

The Pensions Minister invited the industry to work up the details of an alternative approach by February.

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Chancellor announces extension to shared equity scheme

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The Government will be urging the Housing Association to extened its role in shared equity as well as property developers.

Chancellor Gordon Brown confirms that three buiding societies and banks have signed up to the scheme as well as four developers.

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