Legal & General Pensions applaud bold efforts on pension reform

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Legal & General Pensions applaud bold efforts on pension reform

Thu 25th May 2006

Legal & General Pensions has applauded what they are calling bold steps by the government in the long awaited white paper on pension reform.

Experts agree that there is still much to do for the government over the pensions issue, but the latest white paper has been welcomed by Adrian Boulding, Legal & General's Pensions strategy director.

Mr Boulding said today: "This is a bold effort to bring both employers and employees currently in the wilderness into the retirement savings fold. Mandatory employer contributions and auto-enrolment of employees will create millions of new savers."

The government has acted in response to concerns over the UK's ageing population and private pension providers have a keen interest in the government's proposals, Legal & General Pensions, Mr Boulding added: "There is still much detail to be sorted out and we will contribute to the ongoing consultation."

The Legal & General Pensions response comes after what Prime Minister Tony Blair has described as a "landmark process" of pension reform.

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