Directors call for auto-enrolment delay
The Institute of Directors is calling on the Government to postpone the introduction of automatic enrolment until 2014 due to concerns over high opt-outs and costs to businesses.
Policymakers are under growing pressure to push back the current timetable, which will see the UK's largest employers offering staff a pension scheme from October, 2012.
IoD director general Simon Walker says: "This is the wrong time to be implementing pension auto-enrolment. The Bank of England's downward revision last week of their growth forecasts for this year and next shows that companies and households are hard-pressed. Real incomes are being squeezed and employers are struggling to offer staff pay rises."