Charity Finance Directors Sceptical of Government Pension Proposals

28th March 2003

The Charity Finance Directors' Group (CFDG) have today expressed concerns that the Government's proposals outlined in the Department of Work and Pensions (DWP) Green Paper will not solve the fundamental problems that the sector is facing in terms of the increasing cost of providing adequate pension provision.

CFDG's response to the Green Paper, which was developed in consultation with their Policy Development Working Group, welcomed the proposed simplification of pension provision but expressed scepticism that the proposals will achieve the significant savings in pensions administration costs claimed.

In their response CFDG support the creation of an employer's taskforce to promote employer involvement in pension provision and argue that there should be charity representatives on this task force. CFDG also call on the Government to reverse the 1997 decision to remove the Advanced Corporation Tax Credit on Dividends.

CFDG announce in their response, that they plan to set up a working group who will consider the pressing pensions issues impacting on the sector.

Shirley Scott, Director of CFDG, said: "The Government must not forget that charities are also employers. It is vital that the views of the sector are taken into account on this important issue. Although we generally welcome the proposals, they amount to too little too late. We plan to create a pensions working group to talk through these issues and the problems the sector is facing".

 

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