Employers should be clearer about their pensions provision when advertising for jobs, according to research by the National Association of Pension Funds (NAPF).
According to the industry body’s survey on the links between job-hunting, recruitment and pensions awareness, a fifth of employees only found out that their new employer offered a pension scheme after they had started their job. Just four in 10 knew if there was pensions provision when their applied for their current position.
A further 21% found out what the organisation offered during a job interview, while 17% did so when reading their contract terms and conditions.
An organisation’s pension provision can have a significant influence on whether someone applies for a job. Overall, 73% of respondents said would view an employer that offered a pension scheme more positively compared to one that did not.
The majority (94%) of respondents said firms should be clearer about what their pension arrangements are when they are recruiting and 79% said they would be more likely to apply for a job if the organisation offered a good pension scheme. In addition, more than half (55%) said the pension offered is an important factor in whether they decide to accept a job or not.
However, around two-thirds (65%) admitted they have not paid enough attention to the pension on offer when they took a job in the past.
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