News
June 2007
Plans for new pensions scheme announced
The Government has published details of a new savings scheme which will give all employees the right to a workplace pension with a contribution from their employer.
Personal Accounts, as it is called, plans to increase levels of savings by automatically enrolling employees into the new scheme.
Support for the plan can be found in the research report, Attitudes to Pensions, which revealed that:
- 84 per cent of people surveyed supported the idea of a national pension savings scheme
- 68 per cent supported automatic enrolment, particularly if there was an employer contribution
However, the research also showed that 29 per cent of people prioritise spending today over saving for tomorrow.
With this in mind personal accounts are designed to be ‘hassle-free’ to help encourage people to save.
Find out more about Personal Acounts and read the report on the DWP website