Government claims workplace pensions will improve quality of life

Fri, 29 Jan 2010

Workplace pensions improve the quality of life for people in retirement, according to new research.

The National Association of Pension Funds (NAPF) has claimed that a workplace pension "clearly improves" the living standards of people who are no longer in work.

Joanne Segars, the chief executive of NAPF, emphasised the importance of making adequate provisions for life after employment and warned Britons not to become complacent.

She added: "The government still has a duty to do all it can to help employers continue to provide a good quality pension for their staff."

The government recently announced plans to reform the current pension system to provide millions of people with their first workplace pension.

Yvette Cooper, the secretary of state, described the proposals as the most significant change to workplace entitlements since the introduction of the national minimum wage .

The plans are, in part, designed to help small and start-up business cope with the economic downturn.
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