“Super Trusts” to the Rescue
UK trade body pushing for low cost schemes for pension savings.
BY Caroline Cakebread | March 29, 2010
Global Pensions is reporting that the National Association of Pension Funds (NAPF) in the UK is urging the industry to establish super trusts to add 30% to members’ pension savings. The organization, which speaks for 1,200 UK pension schemes with 15 million members, says such large, low cost schemes would provide high quality pension arrangements to both savers and employees.
According to the article, NAPF Chief executive Joanne Segars (pictured) said: “Our proposals are designed to create a pension system which is fit for the 21st century. They increase the value of the state pension for everyone, radically reduce concerns over means-testing, and increase the value and quality of workplace pensions. The government’s 2012 reforms are a major step forward and our proposals complete the task.”