Employees will be required to opt-out of company pensions schemes, rather than opt in, the Secretary of State for Work and Pensions has just confirmed.
Speaking at the ABI Saver Summit in London this morning, Alan Johnson MP confirmed it will now be government policy to require employees to in future opt out of being a company pension scheme member if they do not wish to contribute to their retirement savings, rather than be required to opt in. During questions to the DWP minister and ABI chairman, Richard Harvey, Johnson confirmed: “I am committed to the opt out rather than the opt in, to the automatic enrolment. That is government policy,” Johnson admitted. Among other details revealed this morning, Johnson said one of the key c...
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