The government needs to do more to prevent further companies from falling into administration because of pension deficits.
This is according to National Association of Pension Funds (NAPF) spokesman Mark Brooks, who was commenting after the collapse of Readers Digest UK, which could not afford its £125 million pension deficit.
"We are looking to take the issue further really, in terms of saying that what we want the chancellor to do in his next budget – which is due this month – is to provide a budget for pensions," he explained.
Mr Brooks added that the NAPF have put together a set of proposals, which involve the government abandoning its "unworkable" tax plan and guaranteeing that there is enough long term funding to cover the cost of pensions.
Reader’s Digest announced on February 17th that it had filed for administration, with approximately 1,000 employees as yet unsure as to the security of their pensions.
Pensions are a traditional form of retirement funding. In recent years, however, options like equity release have emerged as popular alternatives. 
