FTFM The road to personal accounts has been a rocky one, with private providers reluctant to share their territory with a state competitor and trade union bodies cautious lest a bargain basement offering drives down more generous employer provision.
A survey by Standard Life on the likely effects of the UK government’s national occupational pension scheme, to be introduced in 2012, suggests 8 per cent of employers will level down their contributions to match the 4 per cent mandated by the government, while two-thirds of respondents said they would either close schemes to new entrants, or close to everyone except senior staff.
