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Saturday, 17 March 2012 11:04

Pensions are an employee’s best friend

Written by  Jonathan Lord
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Research by the EEF manufacturers' organisation among more than 250 companies found they were "highly committed" to pensions and were in favour of mandatory contributions from employers and workers.

Director of policy Steve Radley said: "Manufacturers remain committed to providing high quality pensions. Despite the challenging economic and regulatory environment, significant numbers of companies still offer final salary schemes and almost all companies have either maintained or increased contribution rates to defined contribution schemes.

"But, companies are telling us that the risks and regulation associated with pensions are rising and they have no capacity to take on extra responsibilities. The Government has a key role in helping employers to maintain their commitment to pensions.

"Starting from the Budget, it must take progressive steps to make employers' pensions responsibilities simpler and clearer. At the same time, it must resist the growing pressure from Brussels to increase regulation."

Most firms said they had maintained their maximum payments to defined contribution schemes, with one in 10 planning increases.

Last modified on Saturday, 17 March 2012 11:05
Jonathan Lord

Jonathan Lord

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