The Government's pensions quality initiative has received an overwhelming thumbs down from countries leading companies.
According to a survey of the UK's top 450 companies by consulting actuaries Lane Clark & Peacock, the 'Quality in Pensions' accreditation scheme was rejected by the majority of employers.
This gives added strength to the previous dissent from the pensions industry into the plans.
Of the companies surveyed 78 per cent stated they did not support the QiP plans, but a staggering 87 per cent said it would not fulfil its intentions.
Only a 20 per cent minority said they would apply enthusiastically for accreditation.