The NAPF has launched a new initiative to help Britains smaller employers offer their staff workplace pensions.
A new working group will investigate ways to encourage multi-employer pension schemes that reduce the cost and administrative burden of pensions provision for smaller companies who find it difficult to offer an occupational pension scheme on their own.
NAPF chief executive Christine Farnish says: “Workplace pensions are still the best option for most people seeking to build a comfortable retirement income. Yet millions of working Britons, particularly those working for smaller firms, do not have access to an occupational pension. Multi-employer schemes take the hassle and cost of running individual schemes away from employers, and, with the right tax regime, could offer a new pensions option for Britains thousands of small and medium firms.”