UK - The Green Paper has merely postponed difficult decisions on pensions, PricewaterhouseCoopers claims.
And it warns that some of the proposals could actually weaken workers’ protection.
PwC’s actuarial and benefits practice says only the tax regime has been radical and even then it creates many complications by forcing higher paid workers to get financial advice to avoid breaching the £1.4m lifetime limit.
The report said: “The Green Paper is deeply disappointing.”
PwC pensions partner John Shuttleworth added: “Whitehall can be incorrigible when it comes to ignoring continental Europe and timidly following US practice, but on this occasion it has decided to ignore every country.
“What is scary is this inability to learn from others, and the plaintive self-obsession that British problems are somewhat unique.”
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