{"id":674230,"date":"2026-07-05T00:10:28","date_gmt":"2026-07-05T00:10:28","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/674230\/"},"modified":"2026-07-05T00:10:28","modified_gmt":"2026-07-05T00:10:28","slug":"calls-grow-for-mandatory-workplace-pensions-as-jersey-faces-a-tsunami-of-underfunded-retirees","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/674230\/","title":{"rendered":"Calls grow for mandatory workplace pensions as Jersey faces ‘a tsunami of underfunded’ retirees"},"content":{"rendered":"

A business adviser has joined calls for Jersey<\/a> to introduce a mandatory workplace pension scheme, warning there would otherwise be “a tsunami of underfunded pensioners in the future”.<\/p>\n

Kevin Keen also highlighted the risks of an aging population as he warned “Jersey’s really lagging and that cannot continue”.<\/p>\n

The UK has had such a scheme for more than a decade, while Guernsey introduced one last year<\/a> – although workers can opt out.<\/p>\n

Guernsey officials decided the minimum salary contribution is 1% from employers and 1.5% from employees. There are plans for that to rise to 3.5% and 6.5% respectively.<\/p>\n

Jersey’s new government say that just 30% of all workers have access to a private or occupational pension. <\/p>\n

Chief Minister Lyndon Farnham told ITV News that whilst he could not guarantee bringing in a mandatory scheme during the next administration, “it is something that will be on the agenda”.<\/p>\n

1%<\/p>\n

The minimum pension contribution for employers in Guernsey <\/p>\n

Not everyone is on board with the plans. Some businesses say that costs are already too high and they are suffering from growing inflation.<\/p>\n

Caf\u00e9 owner Jo Baker told ITV News that 90% of his kitchen staff are not from Jersey and the majority have “no hope or expectation of ever retiring” in the island.<\/p>\n

He said that while “he would love to sit down and work with people on it”, he “cannot see how it is applicable to hospitality”.<\/p>\n

ITV News also spoke with several workers that have recently come to Jersey and they are focused on the short-term costs, not planning for events in the distant future.<\/p>\n

Want a quick and expert briefing on the biggest news stories? Listen to our latest podcasts to find out What You Need To Know\u2026 <\/p><\/p>\n","protected":false},"excerpt":{"rendered":"A business adviser has joined calls for Jersey to introduce a mandatory workplace pension scheme, warning there would…\n","protected":false},"author":2,"featured_media":674231,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,4176,4174,4175,56,54,55],"class_list":["post-674230","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-personal-finance","tag-personalfinance","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/674230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=674230"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/674230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/674231"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=674230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=674230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=674230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}