UK considers Australian-style pension reform
This is a UK news story, published by Telegraph, that relates primarily to Standard Life news.
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Australian pension systemTelegraph
•Rachel Reeves considers forcing employers to increase pension contributions
72% Informative
Australian employers must put 11.5pc into a worker’s pension, rising to 12pc next year .
Minimum contribution rate in the UK is 8pc , and only 3pc of that must come from the employer.
Australian pension firm Standard Life said it has been in conversations with the Treasury .
Trade bodies urged the Government to proceed with extreme caution’.
Labour has come under fire for its decision to axe winter fuel payments for 10 million pensions.
It will now only provide the allowance for those claiming means-tested benefits.
The possibility of increasing pension contributions is expected to form part of the pension review.
Economists have warned the state pension is unsustainable in its current form.
VR Score
81
Informative language
86
Neutral language
41
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formal
Language
English
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