UK - Personal accounts will complement and not replace existing provision, chief executive of the Personal Accounts Delivery Authority Tim Jones said.
In the first of a series of monthly columns for GP's sister publication Professional Pensions, Jones said while the personal accounts occupational scheme is a key element of the pension reform programme, taking over the pensions world "is not our purpose".
He said PADA is committed to building a scheme that will complement and not replace existing provision.
Jones added the introduction of the personal accounts scheme did not mean that everybody will be automatically enrolled into this new scheme.
He said: "Employers choose which pension scheme, or schemes, they want to use to discharge their new duties come 2012."
Jones explained that personal accounts were intended to plug an existing gap in provision - noting that millions of people were currently excluded from occupational workplace pension schemes.
He said these workers tended to be those on low earnings and/ or are working part-time or on short-term contracts.
And he added small employers are often not a very profitable prospect for private pension providers.
He said: "There is therefore a clear need for a low charge, universally accessible pension scheme for low to median earners."
Jones added: "Our aim is to help facilitate a culture of pension saving among a part of the population that has not previously been engaged and to allow people to take some responsibility for providing for a more comfortable life in retirement to build on the basic foundation the state will provide."
The People's Pension, Atlas Master Trust and The Cheviot Trust have been granted authorisation from The Pensions Regulator (TPR), taking the total number of authorised master trusts to 18.
Pension schemes have been warned they may now face a more challenging legal test if they wish to fix drafting errors.
The Greene King Pension Scheme has appointed XPS Pensions as its actuarial and investment adviser following a competitive tender process.
Professional Pensions has compiled a list charting the progress of master trust authorisation. View our list in full here...