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date: 26 October 2009

embargo: For immediate release

TUC welcomes Personal Account scheme rules

The TUC has welcomed the Government's publication of the results of the consultation on the draft scheme order and rules for Personal Accounts - the new low-cost pensions.

TUC General Secretary Brendan Barber said: 'This is another milestone on the road to the new pensions settlement. It's good news for both employers and employees.

'You cannot make employers enrol their staff into a pension unless you provide a low-cost default option for those employers that do not want to actively choose another pension.

'The millions of low to average earners that are not saving in a pension today need a low-charging scheme with a sensible default option specifically designed to meet their needs.

'Agreeing the Personal Account scheme order and rules is another important part of building a new durable pensions settlement.'

NOTES TO EDITORS:

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Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: media@tuc.org.uk
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: rholdsworth@tuc.org.uk
Elly Brenchley T: 020 7467 1337 M: 07900 910624 E: ebrenchley@tuc.org.uk

Press release (300 words) issued 26 Oct 2009