/24-7PressRelease/ - LONDON, UK, July 13, 2007 - Almost two-thirds of the respondents of a survey conducted by National Association of Pension Funds (NAPF) stated regulatory burden as the main problem associated with pension schemes.
In response to this verdict, National Association of Pension Funds' Chief Executive Joanne Segars has urged the new secretary of state at the Department for Work and Pensions (DWP), Peter Hain, to focus on this issue.
She stated that the DWP seems serious about clearing the clutter of red tape so that employers are encouraged to provide better pension plans at reasonable costs to their employers. She further went on to add that Mr. Peter Hains had from early on demonstrated his willingness to improve workplace pensions.
And its high time some action was taken on this front because recent figures from Tomorrow, a retirement specialist firm point out that over 60 per cent of Britons in their 20s have no immediate plans to start saving for the future.
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