Employers believe that government plans to reform pensions may not encourage provision at all, but instead foster the growth of other forms of savings and wealth creation, acoording to a report published yesterday, reports the Financial Times.

A survey of 150 organisations found that half believed the introduction of low-cost stakeholder pensions would make it less likely that employers would want to offer or continue to offer occupational pensions. The survey, which included 40 of the UK's 200 biggest companies, was conducted by Towers Perrin, the pensions and actuarial consultancy.