UK - Compulsory pension contributions by employers and employees are backed by nearly two-thirds of the public, a major new study shows.
The survey – Work Retirements and Pensions Index – was carried out by opinion research agency YouGov in conjunction with Ros Altmann, the government’s independent pensions adviser.
Findings show that 64% of the 6000-plus people who responded backed compulsory employee contributions and that 79% supported compulsory employer contributions into occupational pension schemes.
Inland Revenue proposals to tax lump sums were opposed by 92% and almost as many supported money-back annuities.
Moves to increase the retirement age to 70 were opposed by 80% and 57% thought that everyone should get the same amount of tax relief for the same contribution.
Again while 39% favoured cash payments into their pension rather than tax relief, 22% said that they would prefer to retain tax relief.
A further 61% said they would contribute more if the government offered to match pension contributions pound for pound.
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