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Portable Pensions

Why can't contract-based company pensions attach to the employee, rather than to the employer, like bank accounts do?   You don't need to open a new bank account with your new employer's chosen provider each time you join a new company.  So why should you have to do that with your company pension?   Clearly the payment infrastructure is all there already, since they pay your salary directly into you bank account, so that can't be the problem.

When (if?) Personal Accounts arrive, they will offer this advantage.   Perhaps they'll do us all the favour of forcing similar benefits into the private sector?

A simpler solution, where each individual chooses their own single pension plan would make life a lot easier for everyone, and possibly even encourage people to save in pensions plan more.

This seems to be a prime example of a customer benefit innovation waiting to happen.

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