The largest pension provider in the industry, B&CE, has called on the industry to put its house in order after the publication of a report into the pensions crisis.

The Employer Task Force, an independent body set up by the government, said Britain must beef up its voluntary approach immediately but B&CE believes that compulsory schemes are required. It has called on the industry to address the issues.

John Jory, deputy chief executive of B&CE benefit schemes, said: 鈥淎ccording to the taskforce, the government 鈥榤ay be forced to look at more drastic solutions鈥� if the current system doesn鈥檛 work soon. It is our long-held opinion that we will not solve the pensions crisis without some form of compulsion.鈥�

Jory said he believed the best way for companies to tackle the problem would be to adopt an 鈥渁utomatic enrolment鈥� approach.

The report by the taskforce recommended that employers and employees aim to put 15% of an employee鈥檚 salary into a pension each month. Two-thirds of this should be supplied by employers.