Government challenges insurers to come up with Turner alternative
The government has given pensions providers until February to come up with an alternative model to Lord Turner's suggested National Pensions Savings Scheme (NPSS), after industry experts claimed that implementing the plan could lead to thousands of job cuts.
The financial services industry reacted angrily to the Pensions Commission's report after it recommended all employers should be forced to pay into staff pensions, which would be managed by government-appointed brokers.