News Categories

• Banking
• Breakdown Cover
• Car Insurance
• Credit Cards
• Home Insurance
• Insurance
• Life Insurance
• Loans
• Money
• Mortgages
• Pensions
• Pet Insurance
• Travel Insurance

News Archive

• May 2012
• April 2012
• March 2012
• February 2012
• January 2012
• December 2011
• November 2011
• October 2011
• September 2011
• August 2011
• July 2011
• June 2011

Newsletter

Company pension schemes are 'hard to beat'

By Tom Farley, Tue 26 Aug 2008 - Published in Pensions

People who compare money saving deals for retirement will find work pensions are one of the best ways of saving for old age, the National Association of Pensions Funds (NAPF) claims.

Michelle Lewis, senior policy advisor at NAPF, said the combination of tax relief and employer contributions makes a company pension scheme hard to beat.

She stated: "Saving into a company pension scheme remains vital if people want to enjoy a good standard of living when they retire."

A report by Lane Clark & Peacock LLP found the FTSE 100 companies had a net deficit of £41 billion in July 2008, in comparison to a £12 billion surplus at the same time last year.

This is the biggest 12 month swing in FTSE 100 pension funding levels since June 2002 when modern accounting methods were introduced.

Lane Clark & Peacock LLP claims this is a result of inflation rises, the credit crunch and equity market volatility.