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Review 2012 Compulsory Pension Contributions for all employees

Submitted on Friday 19th August 2011

Published on Monday 22nd August 2011

Current status: Closed

Closed: Wednesday 22nd August 2012

Signatures: 5

Tagged with

Pensions ~ Tax

Petition Action

Review 2012 Compulsory Pension Contributions for all employees

Additional Information

Government to review compulsory pensions for all employees from 2012. It is unfair for those employees working for private companies to contribute to a pension that is unlikely to provide the majority of them with an adequate pension in retirement, when Public Sector employees receive a guaranteed annual pension upon retirement with their pension funds being secured and with many of them retiring many years earlier than those Private Sector employees. If pensions are to be made compulsory, then the government must ensure they provide and manage pension funds of equal value to those given to Public Sector workers who are paid for by the Tax Payer. A re-think of contributions by older workers must also be considered, as their pension funds will not be given time to mature substantially to provide an annual sum in retirement worthy of the amount of income lost later in their working career.

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