Download a PDF of the Employee Benefits/Johnson Fleming Pensions Research 2010
In just over two years, the Pensions Act 2008 will begin to be implemented in the form of auto-enrolment, compulsory contributions, the removal of contracting out and the introduction of the national employment savings trust (Nest).
Although the coalition government has placed these changes – especially auto-enrolment – under review (to report on 30 September), it is widely believed all will go ahead as planned but, hopefully, with some tidying up of the less sensible smaller details.
Broadly, our research shows that most employers believe the changes are a step in the right direction to solve the UK’s lack of pensions savings. We at Employee Benefits would agree – these changes are merely a start that needs to be built upon. That means we cannot stop when we reach the 8% total contribution required by the legislation; this must continue to be raised to much higher levels, so that savings will deliver decent pensions to retirees.
Debi O’Donovan, Editor