Many firms may be failing their employees when it comes to providing an effective company pension scheme, according to new research.
Data from financing specialist Barclays Financial Planning reveals that one in ten small to medium-sized enterprises are breaking government regulations by failing to offer their workers the chance to invest in a company pension scheme.
Meanwhile, it appears that even employees who regularly contribute to a company pension scheme may still encounter financing difficulties when they come to retire.
The survey shows that 13 per cent of firms believe staff will be unable to enjoy a comfortable retirement if they continue with their present pension contribution rate.
"With the rise of pensions schemes designed to help people secure a comfortable retirement, companies should be highlighting the importance of pensions and retirement," remarked Stephen Ingledew, director of the financing service, responding to the research.
Company pension schemes are widely believed to be one of the most effective pension savings option.
In addition to contributions from the employee, the pension pot is also boosted by donations from the employer and money given by the government in the form of tax relief.
Company pension scheme research hints at future financing difficulties
Pensions Quote Line
0845 108 0505
Company pension scheme research hints at future financing difficulties
Wed, 07 Mar 2007
Recommended links
Your comprehensive guide to pensionsPensions enquiry form
Planning for your retirement
Company pension schemes
Tax on pension contributions
Compare pension providers
January is the time to plan for company pensions
Pensions company launches new investment product
Pensions.co.uk is part of a large network of financial sites created to help advise you on life events, such as buying a house, Mortgages.co.uk; insuring your car - CarInsurances.co.uk; your life - LifeInsurance.co.uk; and your home - HomeInsurance.co.uk.
1998 - 2008 UK Pensions - Planning before, at the onset and during retirement.
| pensions news |
|---|
| Company pensions 'vital for retirement' - Tue, 26 Aug 2008 |
| Pensions fraud faces crackdown - Fri, 22 Aug 2008 |
| Low-paid workers 'may not benefit from personal accounts' - Thu, 21 Aug 2008 |
| More News |
Pensions Newsletter
Please enter your email below and subscribe to our monthly newsletter
Save on Your Mortgage
Would you like to save money on your mortgage? Fill out our quick mortgage enquiry form.
Protect Your Health
Find Critical illness, Life and Private Medical Insurance PMI policies.