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Welfare Reform on the Web (August 1999): Pensions - UK

MORE PENSIONS FEEDBACK SOUGHT

N. Timmins
Financial Times, May 5th 1999, p.15

The government would like more feedback on whether the self-employed should be compelled to save more for their pensions.

OCCUPATIONAL PENSIONS FOR ALL EMPLOYEES

D.R. Cooper
Employee Relations, vol.21, 1999, p.145-158

Concludes that money purchase pension schemes fail to meet employees' needs, especially at a time when the security and level of state pensions is being eroded. An alternative defined benefit structure is proposed, the revalued career average pension scheme. It is argued that this benefit structure can be made attractive to both employers and employees as it addresses many of the problems associated with final salary schemes and provides pension scheme members with the security they value.

REPONSES TO THE UK PENSIONS GREEN PAPER HAVE NOT BEEN UNIFORMLY ECSTATIC

Anon.
Pensions International, issue 7, 1999, p.14-15

After the first flush of enthusiasm, the UK government's green paper 'Partnership in Pensions' has met with a sceptical response. The most serious claim is that the target group at which the new stakeholder pensions are aimed is unlikely to find them attractive, since most already have a private pension. Other critics have expressed fears that stakeholder pensions will undermine existing occupational schemes, and that the responsibility of choosing them for their employees will over-burden small businesses. Providers fear that it will be difficult for them to make money out of stakeholder schemes without radically reducing their costs.

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