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Pension changes should benefit SME's

Small businesses could benefit from increased access to investment, under proposed changes to pension schemes. The Government has set out plans to encourage defined contribution pension schemes to consider a wider range of investments, including small businesses.


Larger schemes, such as those with 5,000 or more members, could also be required to report their policy on this type of investment.


Mike Cherry, chairman of the Federation of Small Businesses, praised the proposals for "demanding transparency from big pension schemes" regarding their support for smaller businesses.


Afford Bond Director, Paul Edwards, said: "This is certainly an area where more transparency is required from the Government on its plans to ensure investment goes towards the businesses that will benefit the most, especially SME's which are the backbone of our local business community.  And we have been working with several of our clients recently to ensure they are best placed to take full advantage of any imminent pension benefit changes."


If you run an SME and would like further information on this, please use the Contact Us form on our website at www.affordbond.com or email Kate.Quirk@affordbond.com 


Cherry said:


"The Government needs to outline how it intends to bring the thousands of small firms that are in need of investment together with pension scheme trustees.


"We must avoid a situation where these plans end up benefitting projects and firms that are already comfortable, rather than the high-performing small business owners who are absorbed in making their firms a success."