Pensions To Be Compulsory?

Following the introduction of Stakeholder Pensions in April 2001, the Government are still pushing hard to get everyone saving for their retirement.  The take up targets for Stakeholder have fallen short of the mark and the Government again stated that it wanted "to raise the level of saving for pensions by whatever means is most appropriate".  Following this year's Budget statement that raised National Insurance contributions and froze the non retired personal allowances, the Government seems on dodgy ground for re-election if they also make paying into your own or your employees pension compulsory.  Nevertheless, a spokesperson for the Treasury said "our preferred option is to encourage saving rather than make it compulsory but we have not ruled out compulsion".  For more on pensions visit Pensions Adviser.com or the Stakeholder Cafe.com.