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What were the challenges of the old Pensions system?
- Pensions Alliance Trust Limited
- Securing your future
The old pension’s law had a few limitations and challenges and as a result did not fully meet the requirements and expectations of a section of the public. Some of the key issues of concern were:
- The amount of lump sums paid were seen to be uneconomical
- The large informal sector was not catered for
- Low involvement of contributors
- No regulator of the industry
The new Law therefore was aimed at addressing all these limitations and more.
Look deep into nature, and then you will understand everything better.
- Albert Einstein