A radical overhaul of Britain's pension system, including a compulsory...

A radical overhaul of Britain’s pension system, including a compulsory 2% of annual pay savings requirement, was proposed today by a reform committee of U.K. parliamentarians and pensions industry experts. The Universal Protected Pensions report called for a new scheme with universal compulsory membership across Britain, funded jointly by the state and compulsory member contributions. It would be an alternative to occupational or private schemes, especially for those who currently do not have access to either type of plan.