Pension provisions ''impacting upon business competiveness''
Date posted: 09 Dec 2009
The competiveness of some firms is being affected by the costs of final salary pension schemes, new research has suggested.
Pensions are having an impact on business investment, according to 38 per cent of directors questioned in a CBI and Watson Wyatt survey.
Additionally, 33 per cent claim that restructuring plans have been affected by pension costs.
The competiveness of some firms is being affected by the costs of final salary pension schemes, new research has suggested.
Pensions are having an impact on business investment, according to 38 per cent of directors questioned in a CBI and Watson Wyatt survey.
Additionally, 33 per cent claim that restructuring plans have been affected by pension costs.
"The high and unpredictable cost of running final salary pensions is having far-reaching and damaging effects on UK competitiveness and the wider economy," according to the CBI''s deputy director general John Cridland.
Businesses may be struggling to reorganise their operations because of final salary pension regulations, Mr Cridland has added.
According to Aon Consulting, last month saw an £88 billion pension fund deficit recorded for the country''s 200 biggest schemes which are backed by private sponsors.
The firm believes that "proactive management" may be required to address this situation in the near future.
Click here to email or call on 01223 225011 or 020 7382 8011.
Chief Executive
Our team support business clients including multinationals, global brands, start-ups, leading professional partnerships and sole traders. We provide advice in relation to their people, customers, contracts, finances, products, services, IP, know how or their property.
Learn more...
