Printer Friendly

Problems over pensions.

THE country's pensions system is in "urgent need" of improvement if millions of workers in private firms are to save enough for retirement, according to a new report today.

A commission set up by the National Association of Pension Funds uncovered "widespread concern" about the charges, risks and complexity of the pensions of 23 million workers.

The Workplace Retirement Income Commission said workers must get a better deal from their pensions. Lord McFall of Alcluith, who chaired the commission, said the spotlight for reform had rightly fallen on public sector pensions, but he added there were "critical problems" in private firms as well.

"Too many people are stuck in a complex, costly and inefficient system that relegates the consumer's interest to second place.

"On top of that, they simply aren't saving enough to secure a decent retirement." Comment: Page 6
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2011 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Evening Chronicle (Newcastle, England)
Date:Aug 2, 2011
Previous Article:Primary pupils 'failing'.
Next Article:Film fortunes; In brief.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters