|
08-Apr-08 11:15 [Pensions]
Personal accounts to have 'lasting impact' Personal accounts should complement and not replace good workplace pension provision, according to the National Association of Pension Funds (NAPF).
The UK body has claimed that the personal accounts scheme, to be introduced in 2012, will benefit employees who do not currently have access to a workplace pension.
Mark Brooks, head of press at the National Association of Pension Funds, said: "The impact of personal accounts will have a longer lasting effect on people than the London Olympics of the same year."
He added that the accounts will also impact employers especially those which currently "make no contribution to a workplace pension".
The NAPF also said that setting up the auto-enrolment systems will be new to all companies, whether they currently offer a pension or not.
Under the new system, employees will be automatically enrolled onto an exempt work-based pensions scheme if they aged between 22 and state pension age and earn over £5,000 a year.
Conversion courses are currently attracting a host of new teaching candidates across the country as teachers seek a career change, it has been stated.
Find out more>
The Pension Protection Fund (PPF) could be put under a large strain should the situation surrounding Woolworths deteriorate further, it has been stated.
Find out more>
The court of appeal has resolved the long-running feud of Allen v GMB, it has been reported.
Find out more>
|
