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Workplace 'at the heart of pensions' under new proposals
20/02/2007
A pensions expert has commended the government's planned reforms for ensuring work-based schemes remain integral to retirement incomes for Britons.
The chief executive of the National Association of Pension Funds (Napf) said the white paper proposals show a commitment to strengthening employer pension programmes, which currently help millions save for their later years.
In addition, Joanne Segars praised the inclusion of a quality pensions status within the reforms proposals which could encourage businesses to offer their workers more than the mandatory contribution level.
"However, there is still one piece of the jigsaw missing - fiscal support to encourage employers offering high-value schemes to auto-enrol all their staff into their schemes at today's high contribution rates," commented the head of Napf.
The chief executive added that the association will be meeting with government representatives in the near future to discuss the feasibility of a tax incentive scheme for companies offering high-value pension funds.
The chief executive of the National Association of Pension Funds (Napf) said the white paper proposals show a commitment to strengthening employer pension programmes, which currently help millions save for their later years.
In addition, Joanne Segars praised the inclusion of a quality pensions status within the reforms proposals which could encourage businesses to offer their workers more than the mandatory contribution level.
"However, there is still one piece of the jigsaw missing - fiscal support to encourage employers offering high-value schemes to auto-enrol all their staff into their schemes at today's high contribution rates," commented the head of Napf.
The chief executive added that the association will be meeting with government representatives in the near future to discuss the feasibility of a tax incentive scheme for companies offering high-value pension funds.