4.7. HR - Pensions

Companies are not obliged to set up their own company (or occupational) pension schemes, but the Government has said it intends to encourage company schemes as the best way of providing pensions for employees. But changes in legislation, as well as demographics, mean that company pensions are expensive to provide. Plans to increase the pension age (or perhaps abolish it altogether) may make things easier. In any case a pension scheme is a selling point in attracting and retaining employees.

This briefing explains:

• The different options.
• The costs to an employer.
• Where to get help.