I would like to see the introduction of a Pension Bank Account for every UK Citizen created when you register the cilds birth. All funds, investments go to this account. A Bank is nominated and statements sent every 6 to 12 months to show its performance. Government contributions are added to this account. The Banks will chagre a fee for running this service. If you dont like what the Bank does you can move it to another Bank. The scheme should be insurance backed and will be included in the fee. Because you get statements every 6 months you can monitor the performance of your pension. Flexabilty should be built into the scheme to allow people to change investments to maximize their pensions. This scheme is outside the reach of the Government and allows people to protect their future. Family and friends can pay into the childs pension fund. In addition when children reach 18 they would be entitled to borrow a percentage of the fund to pay for their education and to repay the fund when employment commences.
This would make a start and we could progress from here.
I agree – good idea, if they look after the money !
This is such a good and sensible idea – it will reward those who work – therefore our government will never allow it!