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What we doWe are one of the key actors in UK pensions policy, working closely with the UK government, the Pensions Regulator, the Pension Protection Fund and EU institutions to ensure the business and regulatory environment is favourable for those companies which voluntarily chose to provide occupational pensions. We aim to ensure the business voice is at the heart of the current debate on the future of both UK and EU pensions.Main contactsNeil Carberry – head of employment and pensions Guy Bailey – senior policy advisor Mario Lopez Areu – policy advisor'NEST' pensions may fail over high chargesThe government's new workplace pension scheme could deter millions of savers because of its high and complicated charges, and the next government needs to revisit the structure of the fees. Read more here.Public sector pensions must be overhauledPensions in the public sector must shift from unsustainable 'final salary' models to a more affordable system, if we are to contain a trillion pound burden on the taxpayer, says new CBI brief. Full story. Read: Getting a grip: the route to reform of public sector pensions.PPF and CBI publish tips for levy reductionIn conjunction with the Pension Protection Fund (PPF) we have jointly published information for pension schemes, advisors and trustees on ways that a scheme's levy can be reduced.How to reduce your pension protection levy provides information about how the levy is calculated and suggests 10 actions a scheme can take to decrease the amount of levy it pays. Schemes are also reminded to make sure they provide the Pensions Regulator and D&B with up-to-date and accurate scheme data before the data deadline on 31 March 2010, for use in the 2010/11 levy. Defined benefitThe recession has had a significant impact on DB pension schemes, which are now a drag on sponsoring employers' competitiveness. Decades of increasingly tough rules, increasing longevity and growing liabilities have diverted cash from businesses to their schemes – and the recession and early recovery is when they need cash most. We work to protect employers from the negative effects of their DB liabilities.Defined contribution and pension reformDefined contribution (DC) is an increasingly-popular option for firms moving away from DB. Many firms offer high-quality DC with high levels of contributions – levels that we are working to maintain from 2012, when auto-enrolment and a new national pension saving scheme will be introduced, by lobbying to make the rules employer-friendly.Public sector pensionsThe need to tackle the growing burden of future public service pensions is a major issue for the UK economy. We have been vocal in calling for government to face up to the fact the changes introduced in 2005 do not go far enough. Our members believe government should establish an independent commission tasked with investigating the true cost and sustainability of these schemes and make recommendations for reform.Pay and the National Minimum WageWe are also active in pay policy. We are particularly focused on the National Minimum Wage, which is set each year by the Low Pay Commission. We support the NMW and we are the only employers’ body represented on the commission, and have a unique insight into the process of setting the wage. |
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