Employers launch pensions taskforce

Feb 14 2005 by Nic Paton Print This Article

A taskforce to look at how British businesses can prevent UK pensions’ provision going into terminal meltdown has been set-up by the manufacturers’ body the EEF.

It is examining what will be the best strategy and arrangements for pensions, and how a sustainable future can be secured for British workers between now and 2015.

It will also look at how the country can dig itself out of the current mess of financial black holes and poor saving records.

The taskforce will be made up from a range of financial, pensions and HR specialists and will be chaired by Paul Lester, chief executive of defence contractor VT Group.

Its report is due to be published this summer 2005.

Lester stressed the issue was now one of the most important and difficult facing policymakers today, and that there were no easy answers.

"Many manufacturers remain firmly committed to providing pension arrangements for their employees and it is important that their views on the UK's future pension arrangements are taken into account,” he said.