CBI head hints at change in pensions policy
14 November 2003
Digby Jones, the director general of the Confederation of British Industry, has signaled the possibility of a dramatic U-turn in its pensions policy, after he acknowledged the severity of the situation facing the pensions sector.
Just a month previously, Mr Jones's deputy, John Cridland had claimed that a compulsory pension scheme for employers would exacerbate the pensions crisis and threaten the viability of many small firms.
Mr Jones told The Times last night that he was willing to listen any and all suggestions, although he conceded that the CBI's endorsement of a compulsory pension scheme for employers would be dependent upon the exact definition of compulsion.
'The road to compulsory pension contributions is extremely rocky but we shouldn't discount anything,' he said.
Brendan Barber the general secretary of the TUC which has long campaigned for compulsory measures in employer's pensions schemes, welcomed Mr Jones' comments.