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Warning of Govt threat to occupational pensions

Occupational pensions are under threat from proposals outlined in the

Chancellor&#39s enterprise shake-up announ-ced last week, says employee

benefits consultancy Buck Consultants.

It warns that Government measures to encourage small business start-ups

will result in an investment culture taking inappropriate risks.

Buck says that by interfering with the investment process of bigger

company pension schemes and increasing the number of smaller businesses

that often do not have an adequate company scheme, occupational pensions

are threatened with a “pincer movement”.

Buck says many of the rec-ent steps in this direction are a result of the

Myners Report into institutional investment which criticised the

risk-averse attitudes nature of this sector.

Buck Consultants technical and legal expert Kevin Le Grand says: “The

Government has lost sight of the need to provide an effective private

sector system to ensure adequate retirement income for the burgeoning

number of UK senior citizens.”

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