Workers look to employers for pension information, survey shows

Mon, 28 Jan 2008

People look to their employers to help them understand their pensions, a new poll has found.

The study, conducted by the National Association of Pension Funds, found that 87 per cent of experts surveyed believed that workers look towards their company to help them understand which funds to invest in and how much they should save .

Joanne Segars, chief executive for the association, said: "Employees do not just want standard information, they want in-depth information, much of which could be bordering on regulated advice."

She added that this meant that employers would have to widen their skills so they could tell the difference between what constituted pensions advice and what was information.

Ms. Segars added that this distinction was a fine but "crucial legal and regulatory line".

Research by Age Concern indicates that the number of people of pensionable age in the UK will rise to 12.2 million by the year 2011.
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