Standard Life highlights issues with Personal Accounts as Pensions Bill receives second reading

The second reading of the Pensions Bill 2007 takes place today.

The Bill provides further detail around Personal Accounts which will be launched in 2012.

Standard Life is warning that if the Bill is passed without amendment, existing pension provision could be seriously harmed.

The key issues for Government to address through the Bill include: use of auto-enrolment and qualifying schemes.

definition of qualifying earnings.

addressing the potential conflict of interest at the Personal Accounts Delivery Authority (PADA).

financing of the PADA.

means-testing.

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