Question 2 A rapidly developing country has a growing financial services industry including a stock market, but without a pensions industry. Because of increasing longevity, the minister for social services is concerned about the lack of retirement provision and has appointed you as an advisor, asking you to explain the issues. (a) Discuss whether the government should promote retirement provision in the country. [4] (b) Outline what the government could do to enable people to have retirement provision. [4] (c) Outline possible disadvantages of the measures described in (b). [4] (d) New Life Ltd is a new, rapidly expanding life assurance company which has been established by a large overseas insurance company. New Life Ltd does not currently provide an employee benefit scheme for its employees. You are a pension consultant. The finance director of New Life Ltd is thinking of introducing an employee benefit scheme and has asked for your advice on what the new scheme should provide. Outline what factors you would take into account in deciding what employee benefit scheme is suitable. [8]