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Tuesday 2 October 2012

Auto-enrolment 'is a positive move for the British workplace'

The auto-enrolment pension scheme, which was introduced in the UK yesterday (October 1st), has been hailed as being a "positive" move on the government's part.

According to Teresa Fritz, consumer finance expert at MoneyVista, the strategy is "a good thing" for Britain as a whole and believes that everyone who can take advantage of the scheme should do so as soon as possible.

She explained: "Apart from anything else, your employer has to put in there as well. It’s like turning down extra pay not to do it.

"You're not getting it into your hand but you are getting it into your pension and that is going to be there for you for the rest of your life."

Ms Fritz did note that many people who opt in will find that their paypacket shrinks slightly as a result, but it means that employees are better prepared when their retirement years loom.

Auto-enrolment should also significantly reduce the pension saving gap in the UK, and "is really the government's only way to encourage people to start saving for retirement", the financial expert concluded.

As a recruitment provider to many of the UK’s major banks, mortgage lenders and building societies Aaron Wallis have a deserved reputation within Financial Services recruitment. Their dedicated FS consultants recruit sales professionals across Retail Banking and Financial Services including IFA’s and Mortgage Broking.

Source: The Sales Executive News

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