Pensions continue to be an integral part of many organisation’s remuneration packages.
According to a survey of 300 HR managers by the National Association of Pension Funds (NAPF), 91% of employers felt offering a pension helps to position their company as a responsible employer. However, 60% of respondents said that staff didn’t understand pensions and retirement issues.
The survey also revealed employers’ views of forthcoming pensions reforms due to come into effect in 2012. Nearly half said they would maintain their existing pension arrangements after 2012, while a further 18% of respondents said they would switch to personal accounts, either for new employees or for both new and existing staff.
Nigel Peaple, NAPF director of policy, said: “The views of those at the heart of companies show that employers view their workplace pension as something deeper than just a normal part of the employment package. There clearly remains a strong sense of duty and responsibility towards their workers which employers should gain more credit for.”