The National Association of Pension Funds has attacked the Government for making creating a “planning blight” causing uncertainty in company pension schemes .
The climate of uncertainty is being created by the Government's continued consultation on stakeholder pensions. The NAPF annual survey of 700 pension schemes revealed 72 per cent of money purchase company pensions still did know if they will register for stakeholder.
The figures also reflect employers' reluctance to change schemes as only three per cent of pension plans have improved their benefits, compared with between seven and ten per cent over the last five years.
NAPF director general Ann Robinson says: “The government has created a planning blight” and they should “keep out of the business or come in and manage it properly.”