14th December: For the third successive month, one of the companies participating in the tender process to administer the Government’s proposed National Pensions Savings Scheme (due to be launched in 2012) has withdrawn. Great-West Retirement Services (December), Logica UK (November) and ATP (October) have all withdrawn as the delays imposed by the Government make the proposition look less attractive.

Commentators are already suggesting that whilst auto-enrolment of all employees into a pension scheme will still happen from 2012, it would be more cost-effective for the Government to achieve this utilising either State pensions (which the Government is not too keen on) or the private sector, via group stakeholder or personal pension arrangements.

For details of the latest proposals and how they will affect you, click here for our single page summary.

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