UK - The Society of Pension Consultants has dismissed growing public support for compulsory pension contributions.
The SPC spoke out as part of a Royal Commission into whether companies should be forced to contribute to employees’ pensions.
SPC president Donald Duval said: “At the moment some employers struggle to provide any type of pension provision.
“Therefore, if you require employers to pay the contributions they will be forced to reduce costs and cut jobs – or say ‘we have to shut down’.”
Some 78% of 3000 workers surveyed by YouGov said employers should be forced to pay into workers’ pension plans.
Meanwhile, new research by Royal Liver shows more blue-collar workers concerned about their post-retirement security are supporting compulsory personal contributions.
A MORI survey of 500 blue-collar workers across the UK has found 53% agreed with the idea.
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