Pensions fail to provide for old age

Figures from the Association of British Insurers reveal that by the end of June just 90,000 firms had set up stakeholder pensions. This left 500,000 businesses liable for 50,000 fines for non-compliance. Even if everything runs smoothly, staff could lose out. Members of defined contribution pension...

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Bibliographic Details
Published inFinancial Management p. 4
Main Author Parry, Charlotte
Format Trade Publication Article
LanguageEnglish
Published London Chartered Institute of Management Accountants 01.10.2001
Subjects
Employees
Pension fund management
Pension plans
Trends
United Kingdom > UK
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Summary:Figures from the Association of British Insurers reveal that by the end of June just 90,000 firms had set up stakeholder pensions. This left 500,000 businesses liable for 50,000 fines for non-compliance. Even if everything runs smoothly, staff could lose out. Members of defined contribution pension plans could face significant shortfalls in their retirement benefits because of falling investment returns, lower annuity rates and increased life expectancy.
ISSN:1471-9185