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Purple Book to 'boost pensions knowledge'
22 December 2008 17:01
The publication of the Purple Book's latest edition is set to help Britons navigate the pensions minefield, according to its author.
Updated by the Pension Protection Fund and Pensions Regulator, the book provides comprehensive information on close to 100 eligible schemes in the UK.
New chapters also include material on compensation payments and risk reduction when selecting a pension plans.
Tony Hobman, chief executive of The pensions Regulator, said that the publication of the latest Purple Book would give consumers a better insight into the unpredictable nature of such schemes.
He added that while the figures reflected the dangers involved in some schemes up to March, the economic downturn has deteriorated significantly since then.
Earlier this month, the Safe Home Income Plans trade body claimed that inflation could erode as much as £186 from state pensions over the next year, causing many retirees to turn to equity release schemes.
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