THE PENSIONS Bill was yesterday heavily criticised by both MPs and industry experts who said measures to improve funding by employers and to allow short-term workers to retain pension benefits would impose an "unfair" burden on firms.
The Daily Telegraph reports the 'attack' kicked off when Pensions Minister Malcolm Wicks - speaking at the Bill's debate stage in the House of Commons yesterday - said the introduction of tough new measures aimed at "improving the opportunities for pensions saving for early leavers". His announcement met fierce criticism from industry representatives, who said the changes would create extra costs and could force more pension schemes to close. One particular clause in the Bill, suggesting departing employees should be allowed to transfer pension rights out after only three months in a ...
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