A pensions association has called on the government to resist temptation and avoid a comprehensive overhaul of the pensions system in preparation for the launch of personal accounts .

In 2012, the government proposes to launch a new national pensions savings scheme built around the personal accounts vehicle, which will feature automatic enrolment for full-time employees.

Nigel Peaple, director of policy at the National Association of Pension Funds , which represents the interests of pension providers across the UK, has now set out how he believes the scheme should work.

Specifically, he has contended that the government should follow the example set by trust-based company pensions schemes and set out clear areas of responsibility for all organisations involved in the roll-out.

Personal accounts must focus on the needs of savers without access to a good workplace pension and apply high standards of stewardship and governance, he added.

There's no need to reinvent the wheel.

In related news, this week saw the publication of a joint pensions report from the City of London Corporation, the Association of British Insurers, the London Stock Exchange and the Investment Management Association.

The study alleged that stamp duty was already reducing pensions pots for many elderly people and would adversely impact upon the success of the personal accounts scheme.