Tuesday, September 18, 2012

Workplace Pensions TV advert

Apparently it was on TV last night for the first time. I haven't seen it yet myself but its now on YouTube.

Auto-Enrolment into workplace pensions is the biggest thing to happen to pensions in decades. It's not perfect but a welcome start. As the advert says "the bosses" will indeed pay into your pension (whether they like it or not). So will you and so will the taxman.

Hat tip the one and only Mr Meech.


Anonymous said...

We would not have this mess, if people did auto-enroll into pensions.

John Gray said...

true anon but the employer contributions need to be hiked up as soon as possible and we need to involve the self employed.

I still don't think it will be totally successful without compulsion and there being some form of Defined benefit promise (not just return of contributions!!!)

Anonymous said...

Earlier this yr, the Treasury was talking about selling 100-year or perpetual gilts to the public. Not surprisingly, there was little take up... why would you want to buy the government's debt. IA hope the govt is not mandating compulsory workplace pensions so as to sell their unwanted debt to the pension administrators.

John Gray said...

Hi Tarxien

I wondered what happened to that idea? There is still a market in undated war bonds.

There is nothing wrong with having gilts in pensions funds, especially inflation linked.

Workplace pensions was agreed long before the current financial crisis.

Only 2.9 out of 20 million workers in the private sector save in an occupational pension.

This is a shocking figure, and this is the reason for "compulsory" workplace pensions.

It doesn't actually go far enough.