Wednesday, 3 November 2010

Government says all UK firms must offer pensions by 2016.

The new scheme will mean all UK businesses will be required to offer a company pension scheme to all staff aged over 22 and earning above £7,475 per annum.

With intentions to benefit those who have no retirement fund-currently between four and eight million people-the National Employment Savings Trust (NEST) will mean even those who often change jobs will have build up a pension for their retirement.

The scheme will begin next year and the government hopes all companies will be registered by 2016.

Pensions Minister Steve Webb said the move would help many UK employees who currently have no retirement fund to look forward to: “NEST will be the new low-cost pension scheme that will be the vehicle for saving for millions”.

Small businesses have reacted badly to the news, claiming the cost would not be enough for their books to handle. After the government announcement that the private sector would need to pick up where the public spending cuts left off, the new scheme would mean more financial hardships for ‘micro’ firms.

5 comments:

  1. You may need to look here for some persuasive essay writing tips that could save you in the future. It could be a good start

    ReplyDelete


  2. Best and really a vintage choice which I really observe. Thanks for the share
    Frases para enamorar

    ReplyDelete
  3. Stubsondemand manages your company finance and record digitally. With Stubsondemand calculator, you calculate pay-related or finance-related work for you. Clarity of taxable income increases with the use of Stubsondemand’s Paystub Generator.
    https://stubsondemand.com/

    ReplyDelete

  4. I’m excited to uncover this page. I need to to thank you for ones time for this particularly fantastic read !! I definitely really liked every part of it and i also have you saved to fav to look at new information in your site.John Lawson

    ReplyDelete
  5. If your company has a website, customers can research the latest products the business owner's company has to offer. Small businesses often don't have a website or blog. They cannot reach Internet users every day. Their competitive chances are lower than their competitors.

    ReplyDelete