NATIONAL EMPLOYMENT SAVINGS TRUST PENSIONS

Motion Text

That this House acknowledges the efforts being made to promote the National Employment Savings Trust pension scheme; believes the scale of the problem for future generations will not be truly recognised until today's teenage population can avail of schemes which are straightforward and over a 40 year period or more can offer the prospect of an improved standard of living in retirement; and calls on the Government to consider schemes, such as those run in the US where a number of credit card companies have entered into formal contracts with pension providers so that for each transaction the value is rounded up to the nearest dollar and the extra cents are automatically invested in the individual's pension, which over such a significant period of time will result in abetter pension at very little noticeable cost.