Employees Demand Flexible System

Investment company, Fidelity, believes UK employees want flexibility in their work and pensions system.

Following reports from the leaked Turner Commission that the retirement age will be upped to 67 by the government, research by the company has shown that 87 per cent of workers would be happy to continue until the age of 70 if they were in a job they enjoyed.

Furthermore, the research claims that 48 per cent of employees who are currently not saving in a pension scheme, would be encouraged to do so if they could take their fund with them from job to job.

Shadow work and pensions secretary, Sir Malcolm Rifkind, said in response to the leaked report: "Gordon Brown should be encouraging people to save. We need a combination of flexibility and incentives to help restore confidence in savings."

The government's new optional savings plan, the Britsaver, based on New Zealand's successful Kiwi-saver, is set to be unveiled on November 30th.