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PADA Mythbuster

PADA Mythbuster

News Release issued by the COI News Distribution Service on 17 August 2009

The Personal Accounts Delivery Authority has today published information to explain how the personal accounts scheme will fit into the pension landscape from 2012, when the Government's workplace pension reforms come into force.

Aimed at dispelling common misunderstandings and confusion around the role of the scheme, PADA has published updated versions of its Myth Buster and Key Facts documents on its website.

They are available to download from http://www.padeliveryauthority.org.uk/key-facts.asp
PADA is responsible for designing and introducing the infrastructure for the new personal accounts pension scheme, which will be handed over and run by a new trustee corporation.
The personal accounts scheme is being created to provide a low-cost, independent, workplace pension scheme that any employer can use. It aims to provide access to workplace pension saving to millions of people – typically those on low to middle incomes. Employers will be able to choose to use the personal accounts scheme or another qualifying workplace pension.

If you have any questions about the role of personal accounts, please don't hesitate to contact.

Statement

Contacts:

NDS Enquiries
ndsenquiries@coi.gsi.gov.uk

Stefanie Ives
Phone: 020 7940 8580
stefanie.ives@dwp.gsi.gov.uk

Heather Tilston
Phone: 020 7940 8582
heather.tilston@dwp.gsi.gov.uk

Nicola Hussey
Phone: 0207 940 8583
nicola.hussey@dwp.gsi.gov.uk

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