So of course this is going to happen:
Tim Jones, the chief executive of the National Employment Savings Trust (Nest), said that forcing companies to offer all members of staff a workplace scheme would result in the “redistribution” of workers’ wages towards the extra huge pensions bill.
He said: “There is no new money in the world. Businesses will absorb the extra costs and some of that will be in some people getting lower pay rises than they otherwise would have got.”
The employer has a pot of money which he thinks the job is worth. Makes no difference to him whether that pot goes into NI payments, a pension of current wages. The job is still worth the same amount.
So of course insisting upon a pension will mean lower than otherwise wages. How could it be otherwise?