The Conservatives have said that mandatory employer contributions must be an essential part of a national savings scheme, if any of the proposed schemes are to be successful. They believe that consumer protection and National Pension Savings Scheme regulation need to be a much more central part of the proposals, and that there should be equal rights to opt out for both businesses and individuals.
Our view
What a shock! Hard pressed employers are left footing the bill again. Is it not enough that we, as employers, from wages that we pay to staff and on top we contribute nearly 13% Employer's National Insurance, 11% Employee's National Insurance, 22% - 40% Income Tax, £000's in rates that we get no benefit for - the council do not even collect our rubbish and postal services charge us £5,000 a year to have our post delivered by 9am; plus if we actually do make a profit we pay 19%-30% Corporation Tax and 17.5% Value Added Tax.
Now let us see, how much is left for compulsory pensions .........? All parties need to address the real problem that is pensions and stop 'passing the buck' - education of the public.
MP's please contact us for a taste of reality on pensions.