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CIPD: Many employees concerned about lack of pension savings
Posted by Helen Jones
New research has shown that many employees across the UK are concerned about their perceived lack of saving for their retirement.
According to a study conducted by the Chartered Institute of Personnel and Development (CIPD), some 56 per cent of workers fear that they are not storing enough of their current earnings away for when they give up their jobs, with more than half - 54 per cent - indicating they are not part of a workplace pension scheme.
The survey, which involved questioning more than 2,000 members of staff, highlights the need for the government to work more closely with businesses in order to make sure they are fully prepared for the effects of the coalition's forthcoming auto-enrolment pension changes.
Charles Cotton, reward adviser at the CIPD, commented: "There is a real danger that, without government support, 2012 auto-enrolment will prove to be a missed opportunity in achieving a step change in the uptake of pensions."
This comes after a spokeswoman for the Federation of Small Businesses stated recently that small and medium-sized enterprises need more support to capitalise on the opportunities offered by the international trading market.
31/01/2011 13:57
News category: Employment