Pensions calculator legislation getting in the way, says Pinsent Masons

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Pensions calculator legislation getting in the way, says Pinsent Masons

Tue 16th Nov 2010

Legislation relating to pensions is not helping employers to deliver effective savings schemes, according to an expert from Pinsent Masons.

Robin Ellison, a partner at the law firm, suggested the implementation of a long-term framework that covers the whole of the pensions issue may aid the development of such products.

But he claimed this is not currently being planned, despite potentially encouraging greater success in long-term savings planning.

"Confidence is highest among employer-backed schemes, but even here counter-productive legislation has made it hard for employers to provide the kind of schemes that both employer and employee seek," said Mr Ellison.

His comments follow research by the National Association of Pension Funds, which found that 41 per cent of employees believe a retirement savings product is the most important benefit a company can offer its staff.

The report also showed 44 per cent of workers think a pension is the most effective way to save for the future.

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