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MP commends Parker Building Supplies’ approach to pensions

Pensions minister Steve Webb has praised Parker Building Supplies’ approach to staff pension enrolment during a recent visit of its Eastbourne branch.

MP commends Parker Building Supplies' approach to pensions

MP Webb was impressed with the builders merchant’s eagerness to ensure that staff are signed up to a pension scheme and added they were “an example of how employers can make automatic enrolment work for their staff”.

Under new legislation, employers are duty bound to enrol their workforce into a pension in a bid to ensure that people save more for their retirement.

Parkers is now paying more than the minimum 1% contribution to staff pensions and have extended the age range of those eligible to enrol to allow as many of its 240 staff as possible to benefit.

“What is great,” said MP Webb. “Is the way Parker Building Supplies has embraced automatic enrolment as a way of doing the right thing for staff, rather than asking what is the minimum we can do. As a successful company, they are also showing that supporting a pension scheme can be balanced with growth and investment.”

Local MP Stephen Lloyd added that he was thrilled to be able to introduce the Minister to “such a successful and growing Eastbourne company”.

Lloyd said: “Introducing more than 200 staff to the automatic enrolment scheme is something Parkers has grabbed with great enthusiasm which shows what a great company they are.”

Stewart Pierce, commercial and financial director of Parker Building Supplies, gave Webb a tour of the Moy Avenue yard. He said: “We quickly recognised the value of automatic enrolment in showing our staff the vital importance of saving for a pension at a time when we will all work and live longer.

“Some of our staff had never paid into a pension before but are now glad to be part of a scheme and that is extremely positive. I am impressed by our staff, particularly the younger members of our team, who have embraced the need to pay into a pension.”

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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