We Have Yet to Find the X Factor for Pensions - Telegraph

Image by Savič Domen via Flickr

By Paul Farrow

There has been a school of thought that argues that compulsory pensions are the only way to help Britain avoid the so-called pensions time bomb.

If your first wage packet has some money taken out of it before it hits your bank account, then you will never know what it is like to have it in the first place. Given the awareness of pensions among Britain's workforces I wonder how many people in company arrangements are actually aware that they are already contributing to their own pension, rather than assuming that it is something that you get for free with your employer.

Yet ''forcing'' people to do something can be political suicide: we can all imagine the headlines and the opposition catcalls had compulsory pension saving, with no chance of opting out, been proposed by the previous government.

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