The Government's decision not to use the Pre-Budget Report to bring forward plans for auto-enrolment into workplace pension schemes has been branded as 'disappointing' by the ABI.
The Association believes enabling automatic enrolment into workplace personal pension schemes as soon as possible is a golden opportunity to boost pension saving. It urges the Government not to wait until 2012 when the scheme is due to begin under current pension reform plans. Stephen Haddrill, director general at the ABI, says: "It is disappointing that savings have been overlooked by the Government in the Pre-Budget Report. Our problems arise from a decade of policies promoting debt and credit. It is time for that to be reversed." Pension funds and other investments have suffered in t...
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