With stories about companies struggling to keep up their responsibilities for pension payments to both former and current employees continuing to hit the headlines, a new survey reported on by the Guardian today reveals that MP’s would like organisations to take on even greater responsibility for making sure their employees are provided for in retirement.
The survey, published by financial PR firm Citigate DVL Smith for Axa Insurance, reveals that around 78% of the 81 MPs questioned would like to see the government put in place legislation to force employers to contribute to staff pension funds. 73% of those questioned also thought employees should be made to contribute to their own pension funds.
MP’s from all parties were questioned for the survey, which also revealed that most were not in favour of the alternative of improving the state pension through tax increases. Most were also against raising the state retirement age as an option to extend the amount of time spent paying into a scheme and decrease the number drawing on it.
According to the paper, Steve Folkard, head of pensions marketing at Axa, commented that it would not be difficult for the government to move towards a compulsory requirement for employers: “Now that employers with five or more employees have to offer access to a pension scheme, the means to introduce compulsion are already in place should the government wish.”
