One year after introducing the automatic enrolment of employees to a pension fund, the Cameron administration announced a new reform. It notably aims for greater flexibility in order to appeal to employers who are reluctant to set up a defined-benefit scheme, which provides workers with a lump sum when they leave. (Ref. 130696)
The British government keeps on reshuffling pensions and announced the implementation, by 2015, of a reform aiming to “share investment risks” between businesses and employees. Currently, in addition to the State pension, two systems are available. One, based on a defined contribution, provides that the company chooses a fund to which workers pay contributions, without knowing the future amount of their pension, which will depend on the outcome of the fund’s investment. The other, known...
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