CBI RESPONSE TO GOVERNMENT’S PENSIONS ANNOUNCEMENT
The CBI today commented on the Government’s plans regarding occupational pensions, which have been put before Parliament.
Katja Hall, CBI Director of Employment Policy, said:
“The CBI supports moves to encourage more people to save for their retirement.
“The changes announced today show that the Government has listened to businesses. We are pleased that firms will face fewer short deadlines and less paperwork than was previously proposed, particularly given the challenging economic conditions.
“However, discussions are still taking place about how these reforms will affect firms with existing pension schemes. The Government needs to ensure it does not make the system too onerous for companies who are already doing more than the law will require, or it could encourage them to cut contributions to the legal minimum.”
12 January, 2010
Notes to Editors:The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. With offices across the UK as well as representation in Brussels, Washington, Beijing and Delhi the CBI communicates the British business voice around the world.
Media Contact:CBI Press Office on 020 7395 8239, out of hours pager 07623 977 854, or email press.office@cbi.org.uk