EMPLOYERS NEED TO ACT ON NEW PERSONAL PENSIONS SYSTEM

摘要

The requirements, costs and administration facing employers in the implementation of Personal Accounts pensions are to be spelled out at an Aberdeen seminar in March, when a leading finance sector strategist and commentator will be the keynote speaker.It has been estimated that up to ten million workers not in employer funded schemes will be affected by the new system, scheduled to come into effect in 2012. Unless they opt out, employees will pay 4% net of their salaries, and employers 3%, with 1% coming in tax relief from the Government which believes annual pensions savings will be boosted by up to pound 8 billion.