According to recent forecasts in the pensions sector, millions of employees believe that they won’t be able to afford to contribute to a pension scheme in accordance with government legislation due to come in 2012.
The National Pensions Savings Scheme will be introduced in 2012 and require employees to automatically enrol. The employee will pay some 4% of earnings, the employer will contribute 3% whilst tax relief will contribute 1%.
B&CE Benefit Schemes conducted a survey to investigate the situation, and found that some 28% of workers in the UK could not, or don’t know if they could, save the proposed pension scheme contributions . Support for the pension schemes remains strong, however.
Affording pensions could be a stretch
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Affording pensions could be a stretch
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1998 - 2008 UK Pensions - Planning before, at the onset and during retirement.
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