Pension changes planned by 96% of firms

The survey of 157 - including 33 from the FTSE100 - found concerns about risk, the need to reduce cost and the Chancellor's 2009 budget were key reasons behind the need for change. It said 77% of respondents said the Budget's pensions tax proposals have further reduced their motivation to provide workplace pensions, whether defined benefit or defined contribution. And it revealed 74% of firms were considering ceasing all future accrual for existing employees. It additionally found 41% of smaller employers and 25% of larger employers intend to offer the bare minimum under auto-enrolmen...