partner feature
The pensions strike has concentrated minds wonderfully
By Gerald Davies, managing director of The Kymin Group O
ur friends in the public sector have had their say, whether you believe
that this is ‘a turning point in the struggle for poorly paid public sector workers’ pensions’ or ‘a damp squib’ is matter of your own judgement. The fact is, whatever your
opinion about the public sector, seven million people in the private sector have no pension provision; nil, absolutely nothing, none whatsoever. So this is addressed to
employers out there, whether you employ just one person or 500. Soon, as a result of the NEST proposals – National Employment Savings Trust – you will have to do two things. Set up a pension scheme for your workers and start
contributing AND automatically enrol your workers into the scheme. The alternative is to let the
government run your pension scheme for you, which I promise will be a bureaucratic nightmare the like of which you will not have experienced before. And just to cheer you up some
more. Who do you think will be running NEST – at least until 2026? Well it’ll be TATA. Yes, that’s
right. The India-based, global steelmaking firm which makes Jaguar and Land Rover cars and owns Llanwern and Port Talbot steelworks. Now isn’t that a cosy thought! Do yourself and your
workforce a favour – contact Kymin Corporate without delay on 01633 840000.
www.kymin.co.uk
THEbusiness QUARTER 13
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