UK - The Confederation of British Industry has denied national newspaper reports that it backs compulsory pension contributions.
Director-general Digby Jones was reported as giving a “guarded, cautious” thumbs up to compulsion, provided the Chancellor offered tax incentives in return.
But a CBI spokesman said the organisation had not changed its staunch opposition to compulsion.
He added: “We reject compulsion completely, because of the additional costs.”
The spokesman explained that the problems surrounding pensions related to the “increased financial risk for companies providing pensions such as equities and changing demographics”.
He said: “The answer to that problem must be to do with incentivising companies to provide pensions, making it cheaper and easier to provide pensions.”
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