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Editor’s comment
There is now just over a year to go until the Pensions Act 2008 comes into effect for the first tranche of employers.
Planning for the reforms and considering the impact compliance is likely to have on their pensions provision and overall costs will be an increasing priority for many employers.
About three-quarters of respondents to this year’s research say complying with the reforms will increase costs, yet the same percentage say the reforms are not a key reason for them to make changes to their scheme.
Employers also appear to be taking a more holistic view of workplace saving, helping staff to focus on short- and medium-term priorities, as well as longer-term retirement needs. This can be seen in the greater availability of products such as corporate Isas and corporate wrap/employee savings platforms.
In our usual prize draw among respondents, Nick Dunk, group pensions manager at Tui Travel, is the lucky winner of £100-worth of Marks and Spencer vouchers.
Debbie Lovewell
Deputy Editor, Employee Benefits
