Pensions - Articles - CBI comments on Pensions Bill

 The CBI today commented on the publication of the 2013 Pensions Bill.

 Neil Carberry, CBI Director for Employment and Skills, said:

 "The Government has listened to CBI calls for a new economic objective for the Regulator and also given businesses the power to offset the additional costs caused by the introduction of a single state pension and the end of contracting out.

 "This must apply to all businesses, including those with protected person status. State pension reform cannot be an excuse to raise business costs in these tough times.

 "Now the focus must be on making the single state pension and the rise in state pension age a reality, and ensuring auto-enrolment is a success. Businesses need certainty on the new rules for state pensions as soon as possible if the Government is to go ahead with the faster introduction announced in the Budget.

 "We are surprised that the Government feels it needs to take action on charges, given they are at their lowest-ever level. We remain unconvinced by proposals for the automatic transfer of small pension pots, which may not always be in savers' best interests."