DSS allays fears on scheme

Employers were reassured this week that plans to give employees “pensions forecasts” will not overwhelm them with paperwork.

The Government is introducing a voluntary scheme next year in which staff will be given a statement outlining the income they can expect on retirement. It will combine figures for state pensions and occupational or stakeholder pensions.

The Department for Social Security has been consulting with the CBI and running pilot schemes with major firms.

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

Email(Required)

OptOut

From time to time, we will send you emails about selected products, events and services from Personnel Today and OHW+ - but you can choose to opt-out at any time. If you do not wish to receive these emails, please tick this box.

Phone

This field is for validation purposes and should be left unchanged.

Δ

Social Security Minister Jeff Rooker yesterday presented one of the first combined pension statements to an employee of publishing company Emap.

CBI pensions policy adviser Mark Thomas said, “Employers have concerns about administrative burdens and data protection, and we raised them with the DSS. But we think the DSS has listened and struck the right balance.”