TUC report criticises pensions incentives

In its new report, entitled ‘Expensive, ineffective and unequal’, the organisation claims that introducing further incentives will not only fail to end the pensions crisis but will also increase inequalities by providing extra help for the well off. Instead, the TUC is advocating the introduction of compulsion in the pensions system and a better state pension. The report argues incentives won’t work. Even in occupational pension schemes, where employee contributions usually trigger a much bigger employer contribution, 13% of full-timers and 16% of part-timer workers do not join. The T...