Property News · November 11, 2017

Nationwide shows pensions’ future needn’t be a grim one |


The building society launched a campaign that has boosted contributions and made staff more engaged with its pension schemeBritish pensions, as we reported recently, are among the grimmest in the developed world. The golden generation that retired with guaranteed final salary-style schemes is being replaced with a generation pauperised by cut-price defined contribution schemes that pay out a meagre outcome entirely dependent on how the stock market performs. Yet in a week when the Paradise Papers have revealed the extraordinary lengths some big companies go to avoid taxes and social responsibilities, it is refreshing to name one company that has gone in the other direction.That firm is Nationwide building society, which in 2014 took a look at its pension scheme and decided it just wasn’t doing enough for its 18,500 employees. What Nationwide shows is that companies can look after their employees, and that the outlook for pensions needn’t be so utterly grim. Continue reading…

Source : theguardian.com
Read more…Nationwide shows pensions’ future needn’t be a grim one |

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