Firms told to end 'inertia' on pensions

Workers could be enrolled automatically in company pension schemes or forced to consider alternatives.

Pensions Secretary Alan Johnson will today admit that Britain is heading for a pensions crisis because of widespread failure to save for old age. He blames a "head in the sand culture".

In a speech at the Labour conference today, Mr Johnson is expected to say: "I want to see more companies offering clear information, or automatically enrolling workers into pension schemes, so individuals do not lose out on what is effectively part of their pay because of inertia or confusion."

An estimated 4.6 million workers eligible for company pension schemes do not join. Firms will be told to enrol staff unless they "opt out", or give advice on alternatives.

Create a FREE account to continue reading

eros

Registration is a free and easy way to support our journalism.

Join our community where you can: comment on stories; sign up to newsletters; enter competitions and access content on our app.

Your email address

Must be at least 6 characters, include an upper and lower case character and a number

You must be at least 18 years old to create an account

* Required fields

Already have an account? SIGN IN

By clicking Create Account you confirm that your data has been entered correctly and you have read and agree to our Terms of use , Cookie policy and Privacy policy .

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Thank you for registering

Please refresh the page or navigate to another page on the site to be automatically logged in

MORE ABOUT