Providers have rejected the idea the Government would be seriously considering extending compulsion on pension savings at this stage, despite a story in a newspaper today.
They say there is no way such a move would be considered until Alan Pickering publishes his final report this summer and also that it would spark outrage amongst employers.
Prudential director of pension development John Glendinning says: “We believe there is plenty of other avenues that can be pursued before compulsion should be seriously considered.”
Scottish Life head of pensions development Steve Bee says: “I would bet against compulsion. All the indications are that it would be badly received by employers and surely compulsion on employees would have to be ruled out.”