UK - Workers want pension contributions to be compulsory for staff and employers, a new report by Standard Life reveals.
Its study shows 61% of working adults say they would welcome being forced to save for retirement. Their favoured level of saving was 5%-6% of income. But even more – 78% – want compulsory contributions from employers.
Three-quarters of workers felt they were least likely to be let down in retirement by a company pension but only 45% were members of an occupational pension scheme.
Standard Life marketing director Martin Slater said: “It is clear that most employees still have an enormous amount of trust in their own scheme and their employer’s ability to provide their retirement benefits.”
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).