Nearly a third of British workers believe their company doesn't offer membership to a company pension scheme, research from AXA revealed.
Poor communication was blamed for the fact that 8.5 million people are unaware of their company's pension scheme.
Over 40 per cent of part-time staff members believe their employers do not offer a company pension scheme, and 28 per cent of full-time staff.
A third of company pension scheme members said their company did a poor job at communicating information about the company pension scheme to members of staff.
Over half of them rated letters as the preferred method of receiving information about their company's pension scheme. Annual statements and booklets were also considered good ways of conveying pension scheme information.
Letters from trade unions, staff intranet and multimedia like CDs or DVDs were the least favourite ways of receiving information, according to most of the company pension scheme members.
The survey shows that a great deal of employers fail to reap the rewards of offering a pension scheme because of poor communication, commented Mark Rowlands, business development and marketing director at AXA Corporate Benefit Solutions.
"They need to fundamentally review why they offer a pension scheme in the context of their commercial and staffing objectives and then use the scheme to help meet those objectives," he warned.
He suggested that an integrated communications plan could help to ensure that staff understand the value of the benefits the company's pension scheme offers. He noted that this could help with staff retention and lower recruitment costs.
Poor communication blamed for company pension scheme confusion
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Poor communication blamed for company pension scheme confusion
Mon, 18 Jul 2005
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