Are companies prepared for the new pension regulations?

Friday 5 December, 2014

The Employee Benefits/Close Brothers Pension Research 2014 which surveyed 216 respondents in September 2014 concluded that ‘48% of respondents expect employers to want and need guidance around their pension decision at retirement and through their careers.’

Simon Hawker, Managing Director Lonsdale Services Limited said: “Given the retirement choices that will soon be available to employees with defined contribution pensions it is not surprising that employers require company pension advice. However the 2014 Employee Benefits/Close Brothers Pension Research also states that only 15% of employers have included ‘at-retirement guidance’ into their communication strategy for pensions. We recommend that any company with a DC pension scheme should consider doing this now so they are ready to communicate the new legislation with their staff members in April 2015.”

Simon Hawker is Managing Director of Lonsdale Benefit Consultants, St Albans. Retirement Counselling and Employee Communication services are offered as part of the employee benefit scheme.

SOURCE: http://www.closebrothersam.com/docs/default-source/library-services-for-employers/employee-communication-tools/ebs_1114_pensionsresearch_close.pdf?sfvrsn=4

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