27 November 2009
Statistics from the National Association of Pension Funds (NAPF)
have revealed that 23 per cent of schemes remain open to new
members. Last year the figure stood at 28 per cent. There have been
a large number of scheme closures in 2009 and more closures are
being announced almost every other day.
According to the NAPF occupational pension funds want to see action
from the government to support workplace pensions. They believe the
most effective way that the government could support pension funds
would be to issue more long-dated and index-linked gilts.
NAPF Chief Executive, Joanne Segars said: "Our survey shows the
high levels of commitment employers have in providing good quality
pensions for their staff; but the recession has made their job more
difficult.
"The government can no longer sit on its hands. It must take bold
and positive action to help support employer-sponsored pensions.
The Chancellor has a golden opportunity to make a difference in his
Pre-Budget Report by announcing that the government will issue more
long-dated and index-linked gilts."
The full NAPF statement can be viewed here:
NAPF - Government Action Needed As
Recession Impacts Pensions
