The UK's leading opposition party, the Conservatives, has expressed doubts about the Labour government's ability to administer the proposed national pensions savings scheme (NPSS) that would automatically enroll all employees.
<p>Investments and Pensions Europe (IPE) reports that George Osborne, the shadow chancellor, has told MPs that he is unsure whether the government's dubious track record in delivering such massive projects will enable the scheme to get off the ground.<br /><br />He added that these concerns were edging him towards an industry-devised model. My instincts go against such a government agency, IPE quoted him as saying.<br /><br />Mr Osborne also said that the chancellor Gordon Brown's move to axe the tax credit on equity dividends may have been the straw that broke the camel's back on corporate attitudes towards contributory pension schemes, and reinstating the tax credit now would arguably have little effect, he claimed.</p>