News
June 2008
Occupational pensions consultation
The Government has launched a consultation to find out how employers can provide occupational pensions for their employees while sharing the risks. These risks include poor investment performance and increasing life expectancy which can make pensions more expensive for employers to fund.
The Department for Work and Pensions consultation asks whether the Government should amend pensions law to allow new types of pension schemes which would more evenly share risks between the employer and the individual.
James Purnell, the Secretary of State for Work and Pensions, said: 'we need to strike a balance between reducing costs for employers and protecting members' benefits. The aim of the consultation is to build a consensus around the motivations, interests and needs of employers – while assessing the risks and outcomes for pensioners of different approaches.'
Read and respond to the consultation on the Department for Work and Pensions website