Introduction of private sector pensions law will not affect small companies until after a few years

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 Monday, May 10, 2021 - 09:57

by PANORAMA reporter
Speaking to the Chief Executive of the Chamber of Commerce Edward Mcquisten about plans for pensions in the private sector, including the timing when businesses have been struggling due to the Covid-19 Pandemic, there emerges that small companies will not start paying pensions by law until a few years’ time.


I was surprised that they should be considered when certain businesses have been forced to cut staff and many people have been left redundant, as certain sectors rely on tourism and more. Evidently if private pensions come in, smaller businesses will have to make cuts on wages, members of staff and in extreme cases some businesses will have to close. I believe that large companies such as the gaming sector will benefit from this, however someone who owns a kiosk in casemates might see it from a wholly different perspective.

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