Government measures designed to promote company pension schemes are more likely to discourage firms from offering them, it has been claimed.

Research carried out by the Association of Consulting Actuaries among small firms found that 51 per cent thought the measures in the Pensions Bill would lead to a fall in the number of companies offering occupational schemes and fewer than one in ten firms thought it would lead to an increase.

At the same time, almost 90 per cent thought the contents of the Bill would either increase the cost of offering a scheme or make no difference, despite Government claims that it should save firms £130 million a year.

Friday May 21, 2004