Tuesday, December 12, 2006

Hong Kong's MPF comes to the UK

This seems strangely familiar....
New UK pension scheme is unveiled

John Hutton said it would help people plan their financial future
Plans for the automatic enrolment of workers into a new pension system have been unveiled by the government.

From 2012, workers not in occupational pension schemes will be enrolled in "personal accounts" unless they opt out, under the White Paper's plans.

Staff will pay in 4% of their salaries and employers 3%, with an extra 1% from the government in tax relief.....

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