Call for pension compulsion
Friday 25 September 1998
Nearly three-quarters of engineering companies employing more than 500 people want the Government to bring back compulsory membership as a condition of employment as part of its wholesale review of pension policy.
The proposal, floated in a survey of members by the Engineering Employers Federation, would reverse a key reform of the 1980s, which is blamed by many for prompting the pounds 15bn pension mis-selling scandal.
Financial advisers were only able to mis-sell pensions to employees because of a 1987 decision by the government. A change in the law barred employers from making membership of their scheme a condition of employment.
The call comes just weeks ahead of the Government's Green Paper on pensions reform, now expected to be published in November. The paper will set out the Government's direction on pension policy and outline proposals for the new "stakeholder pension".
Few details are yet known of the stakeholder scheme, except that the government wants it to have low charges and be based on defined contributions. The Government is rumoured to be backing away from the idea of forcing everyone to contribute more to pensions.
- 1 Cyclist in Russia narrowly misses being hit by car and lorry
- 2 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 3 What are your fingerprint words?
- 4 Gary Lineker involved in Twitter row after presenter rubbishes claims he will be warned by BBC over foul-mouthed tweets
- 5 Pink Floyd new album: Band unveil cover art for first record in 20 years
Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
Slough train station deaths: Woman and child killed after being 'pushed in front of train'
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
Jennifer Lawrence: Leaked 4Chan sex video branded 'fake' by users
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
Labour Party conference: Ed Balls to set out plan to freeze child benefit to balance books
iJobs Money & Business
£65000 Per Annum Benefits + bonus: Clearwater People Solutions Ltd: If you are...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...