New pensions rule to come into force

Wed, 25 Jun 2008

According to an announcement by the Department for Work and Pensions, new legislation will make it illegal for employers to discourage employees from being a part of workplace pension schemes .

The legislation will make it more difficult for employers to avoid making pension contributions to all employees. New legislation due to start in 2012 will see each employee given a personal account, to which they must make pension contributions.

The minister for pensions reform, Mike O’Brien, was reported as commenting: "It is very important that people are allowed to meet their retirement expectations by building up the savings they need. Decisions on whether or not to save in a workplace pension need to be taken free of any unfair pressure."
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