Pension Provision a 'burden' for SMEs

Research from AXA points out 56% of the country’s SMEs are concerned about this financial duty, with about one-in-ten ‘extremely concerned’. Despite the anxiety, 85% of 200 SMEs questioned said they would keep the level of pension contribution at the same level for at least the next two years. None intend to lower the sum provided for employees, while just 9% would raise their pension contributions. The survey follows recent questions raised about pending changes to the Pensions Bill taking effect in 2005. AXA says SMEs should seek expert advice that may provide them with options to...