Change Is Afoot in Uk Pensions - Will Personal Accounts Win Gold in 2012? ; It's Official; the Basis for the Provision of Pension Savings for Uk Employees Will Be Changing From 2012. Tony Cairns, From Hewitt Associates' Corporate Advisory Team Looks at the Possible Impact

Summary

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A new national system of personal accounts for retirement saving is to be introduced for all employees aged 22 or more.

The total contributions to these personal accounts must be equal to at least eight per cent of the employee's annual earnings between around pounds 5,000 and pounds 33,500.

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Extract

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Change Is Afoot in Uk Pensions - Will Personal Accounts Win Gold in 2012? ; It's Official; the Basis for the Provision of Pension Savings for Uk Employees Will Be Changing From 2012. Tony Cairns, From Hewitt Associates' Corporate Advisory Team Looks at the Possible Impact

Of this eight per cent of earnings, the employer must pay at least three per cent, with the employee making up the bal...

See the full content of this document

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