News: NPSS is set to be snubbed.

Pensions Week, April, 2006

Lord Turner's National Pension Savings Scheme (NPSS) will fail because most workers do not want to join it, research by the Association of Consulting Actuaries (ACA) will reveal this week.

The ACA's survey of more than 460 employers with less than 250 staff will show that most are expecting their workers to opt out of the NPSS, even though they will be automatically enrolled.

The NPSS - which would invest in a range of funds and require 4% employee contributions, 3% from the employer and 1% from the government - is one of the key Pensions Commission recommendations under consideration by government.

Adrian Waddingham, chairman of the ACA, told PW the findings of the 2006 Smaller Firms Pension Survey showed many workers could not afford the...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.