As it stands, (pension) trustees will feel compelled to make companies adopt aggressive new funding plans regardless of the impact on the business or on scheme members.
More Quotes from John Cridland:
The CBI welcomes the deregulatory aspects of the Company Law Reform Bill,John Cridland
If the regulator gets this wrong, it could have the perverse effect of throttling private sector investment, thereby damaging the UK economy, putting the very pension schemes the regulator is trying to protect under even more pressure.
John Cridland
This is an attempt to broker a compromise that has completely backfired,
John Cridland
Against this background firms are cutting back on their investment plans and expect the rate of job losses to increase.
John Cridland
It is good that the Commission is allowing the opt-out to remain, but it is quite wrong to give trade unions a veto over what should be an individual decision. The proposals would undermine the individual's right to choose the hours they work.
John Cridland
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