How proposed pension changes could impact businesses

The Government recently held a call for evidence on a proposal to require businesses to pay into a pension scheme that employees choose for themselves, in place of the employer’s default.

Whilst the proposal’s potential to empower people to engage with their pension savings means it is worth exploring, the expected costs appear to sizably outweigh the expected benefits and ensuring the system works effectively will be a challenge.

With 55% of firms saying labour costs threaten UK competitiveness, unkn