Compulsion is gathering momentum - TUC

In its submission response to the Pension Commission, the TUC believes that in order to achieve a decent retirement, individuals need to save as much as 15% of their salaries, adding new compulsory system should see employers contributing 10% with employees the remaining 5%. The trade body urges for a new compulsory savings regime to be operated by a group modelled in close fashion to the Low Pay Commission while incorporating unions, employer representatives and an independent brains trust. The TUC adds in order to fund a compulsory system would require a hybrid of defined benefit and ...