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A sales pitch to part fools from their money

The Queen’s Speech gave details of a new Pensions Bill that will lead to the auto-enrolment of millions of people into a new national scheme of personal accounts in 2012. Ministers have set out the rationale for this dramatic move.

‘Automatic enrolment in personal accounts will make it easier to save — in particular for those on low or moderate incomes.

‘And the guarantee of minimum employer contribution and tax relief will make saving more rewarding…

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