UK - Less than 10% of small employers believe the Pensions Bill will improve occupational provision, research from the Association of Consulting Actuaries shows.
The survey of 459 firms, which each employ 250 people or less, found that while 80% supported the principles behind establishing the Pensions Protection Fund, less than 10% felt the Bill’s measures would improve occupational provision.
In fact, the ACA found that 51% of firms feared that the Pensions Bill would decrease occupational scheme coverage, while approximately 50% of firms fear the Bill’s measures will add to costs.
And more than three-quarters of firms fear that the “knowledge and understanding” requirements that the Pensions Bill will place on trustees will deter individuals from taking on the role.
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