helping to solve the pensions crisis
"People are saving less, yet they are living longer than ever before"
It has been well documented that the nation is facing a looming pensions crisis. worryingly, as the population ages the problem is only going to get worse with the present state system set to implode under the weight of a huge financial burden- a burden that will no doubt be met once again by over stretched businesses and the tax payer
The Government has been looking at ideas to solve this conundrum and encourage private saving. In particular they have highlighted a scheme from the USA known as "Automatic Enrolment" – whereby an employee is automatically entered into a company's pension scheme and required to actively opt-out of it if they do not wish to be a part of it.
Throughout April and early May, a number of you took part in a British Chambers of Commerce on-line pensions survey. The survey was designed to further gauge business opinion on the pensions problem and has produced some telling results.
Some of you thought automatic enrolment dictates to employers and that pensions should be made attractive again by restoring tax breaks
Other members seemed to support any policy that encourages people to save for the future
Thanks for all your contributions, our future discussions with the authorities will now directly mirror your thoughts and opinions
read full survey report
