Myths Perpetuated by The Pensions Green Paper

by Dr. Ros Altmann

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1. Accrued pension rights are protected in law

2. Stakeholder pensions have been a success  

3. Pension Credit will reward and encourage saving  

4. The UK state pension system is 'fine' 

5. Giving people more choice and information will encourage and incentivise saving 

6. Government can design simple, regulated products which will be 'safe' 

7. People will be able to choose suitable investments without advice if they are offered decision trees and simple products 

8. Lower DB contributions are better than being in DC 

9. Replacing the MFR with a Scheme Specific Funding Requirement will improve member security 

10. Employers have a 'responsibility' to provide pensions for their workforce

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