UK - The National Association of Pension Funds (NAPF) yesterday reiterated its call to make pension provision compulsory for both plan members and employers - if the Government is serious about the problems posed by an ageing population.
Speaking at its International Conference in Brussels, Terry Faulkner, chairman of the NAPF's benefits council, said that despite Government initiatives to alleviate difficulties - including the Pensions Credit and stakeholder - the fact that provision remained voluntary presented a flaw.
Additional challenges faced by occupational schemes today also include lower investment returns and over regulation particularly in relation to DB schemes.
*The NAPF also repeated its claim that initial evidence showed that stakeholder was not meeting its target groups yet, although it was too early to present a more than anecdotal assessment at this stage.
By Madhu Kalia
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