Pension schemes "under pressure"

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Pension schemes "under pressure"

Tue 2nd Mar 2010

Mark Brooks, spokesperson for the body, called on the chancellor Alastair Darling to try to tackle the issue in his next Budget announcement by making provisions specifically for pensions.

"What we are saying is that, as a company, there are recession costs and the complexity of the pension they offer their employees," he commented. "The government must do more to help."

His remarks were made in response to a question about whether problems with pension funding could force some companies to suffer the same fate as the Reader's Digest Association (RDA).

Last month, it announced subsidiary RDA UK had filed an administration proceeding after the UK Pensions Regulator refused to back a deal set up to settle a longstanding pension plan liability.

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