The collection system that will lie behind the new system of personal pension accounts, due for introduction from 2012, should be opened up to other approved pension suppliers, a report from the Royal Society of Arts said on Tuesday.

That would open up high quality low cost accounts to many more people, “not just the poor”, David Pitt Watson, author of the report and a leading pension fund manager, said, while overcoming an “Achilles’ heel” in the current arrangements.