Pensions Bill
11:45 am
Paul Myners: The most relevant evidence is the research carried out and published by the DWP, which suggests that employers will not be reducing their contributions. Those who have already shown the foresight to put in place pension arrangements have acknowledged the value to their company of having employees with good pension provision. They are working harder to explain to their employees the value of that pension provision. There is now more awareness of pensions issues and people recognise the provision as a valuable part of the employment offer.
There is no reason to believe that those who have concluded that they should offer a pension arrangement with a generous employer contribution should in any way be deflected from that conclusion by the creation of a new vehicle for a totally different market—those who are currently not being offered any pension provision at all.