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| CBI calls on government to act soon on pensions |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Tuesday, 14 September 2010 00:00 |
 Both employers and workers in roles such as finance jobs in London and throughout the rest of the UK will have to pay more in under-saving costs on pension schemes in the long term unless the government acts soon.That is according to the Confederation of British Industry (CBI), which has today (September 14th) urged the Conservative-Liberal Democrat alliance to press ahead with its proposed reforms of the pensions system. The coalition has ruled that as of 2012, employees will be automatically enrolled onto a workplace pension scheme and their business will be legally obliged to contribute a minimum of three per cent to any such fund. However, a simplification of these rules is required if companies such as small and medium-sized enterprises (SMEs) are to be able to comply with the new measures easily. This call for action may be supported by many businesses, as research conducted by Shoosmiths recently showed that there is widespread concern among employers about the effect that scrapping the default retirement age will have on their organisation. Posted by James Strang 
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