THE DEPARTMENT for Work and Pensions proposals to shrink the £27bn savings gap with the introduction of compulsory pensions received a lukewarm response from the industry yesterday, writes the Scotsman .
Latest consultation from the DWP suggests employees should be automatically enrolled into their company pension scheme unless they specifically opt out. However, some analysts believe the proposals were badly sketched as well as unsuitable for millions of low earners, and potentially expensive for small businesses. June Grant, head pensions adviser at Aon Consulting’s Edinburgh office, said: "The government has previously said ‘no’ to compulsion, but if it’s looking at a default employee stakeholder contribution, presumably where there is no company scheme, then we will have compulsio...
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