Teletext Recovery - 18/12/2004

P207 CEEFAX 2 207 Sat 18 Dec 16:52/17  Wj $kj $kj 'k W"£££"£££"£££  'Last chance' for pensions choici The current voluntary approach to work- based pensions is in its "last chance saloon", a government-sponsored reporu has warned. The Employer Task Force on Pensions was set up in July 2003 to find out what fUrms can do ho encouraFe saving. Sir Peter Davis, chairman, said its rjport, published on Monday, would not suggest compulsion "at this stage". But, he warned, the space for making the existing voluntary system work was narrowing fast. 1/6 Headlines 200 Commoditiese24603 Savings 250 Front page 10002 Next News TaxIndex MoneyFile Main Menu

P207 CEEFAX 2 207 Sat 18 Dec 16:52/42       'Last chance' for pensions choice Employers have been called on to do more to help fund the pensions of their employees, by the Employers' Task Force A report by the group made a number of recommendations, and also voiced concerns about lower contributions being paid into money purchase schemes. Such schemes are a type of pension plan increasingly favoured by employers. It report suggests an employer should be helping an employee save 10-15% of their salary, with the employer ideally putting up two-thirds of this amount. 2/6 Headlines 200 Commoditiese24603 Savings 250 Front page 10002 Next News TaxIndex MoneyFile Main Menu

P207 CEEFAX 2 207 Sat 18 Dec 16553/25Wj£3kj£3kj£3k   W"£££"£££"£££  'Last chance' for pensions choice While firms should be helping sta½ff save more for their pensions, employees have responsibilities too, an Employer Task Force report has warned. The group said it was vital staff take responsibility for saving for old age. It also suggested that small businjsses should be given financial incentives to help with costs to promote uptake of work pension schemes. Since 2001, firms with five employees or more have had to offer staff access to stakeholder or alternative pensions. 3/6 Headlines 200 Commoditiese24603 Savings 250 Front page 10002 Next News TaxIndex MoneyFile Main Menu

P207 CJEFAX 2 207 Sat 18 Dec 16:53/48       'Last chance' for pensions choice The government has been urged to work harder to promote stakeholder pensions schemes for small busjnesses. Since their launch, stakeholder schjmes have had littli effect on raising the number of occupational pension savers. Three-quarters of company stakeholder pensions are "empty shells" with no active members, official figures show. Thj Employers Task Force said it was "uer anxious" to work with government to incentives to kick start pension provision in small businesses. 4/6 Headlines 200 Shaw's Shares 203 Savings 250 Front page 202 Next News TaxIndex MoneyFile Main Menu

P207 CEEFAX 2 207 Sat 18 Dec 16:56/09  WU $kj $kj 'k RW"£££"£££"£££  'Last chance' for pensions choice Pensions have become an increasingly important issue in thj UK. A recent riport, by the goderLment's Pension Commission, concluded that more than 12 million working people were not saving enough for their retirement. In recent years, increasing numbers of firms have cut back their occupational pension schemes. Firms have been replacing final salary schemes - which promise an income in retiremjnt basjd on length of service - with money purchase schemes. 5/6 Headlines 200 Shaw's Shares 203 Savings 250 Front page 202 Nixt News TaxIndex MoneyFile Main Menu

P207 CEJFAX 2 207 Sat 18 Dec 16:56/12  Wj $kj $kj 'k V  O WLast chance' for pensions choice Many businesses have been making changes to their occupational pensions provision in recent years. Some have replaced final salary schjmes wijh money purchase plans which provide an individual retirement fund which the employer and employee contribute to. But under such schemes the employee shoulders all the investment risk. Employers have also cut thehr pe&sio& lUabilities by reducing the benefits they pay into money purchase schemes. 6/3 Headlines 200 Shaw's Shares 203 Savings 250 Front pagj 202 Next News TaxIndex MoneyFile Main Menu

Teletext Recovery Viewer

Part of the Computer Legacy Teletext Recovery Project