'Grave disquiet' over occupational pensions - ACA

A survey from the Association of Consulting Actuaries (ACA), questioning 392 firms covering more than 2.8 million members, finds 62% believe the new Pensions Act will in fact have the opposite affect by reducing occupational provision. Moreover, 82% of those questioned say the Act will add to costs and not reduce them, which the regulatory assessment claims. Adrian Waddingham, chairman of the ACA says firms are feeling ‘grave disquiet’ with public policy towards occupational pensions. He says: “Something must be amiss when, having just passed a major Pensions Act after long and in...