Pension education will get funding extension

Fri, 06 Jun 2008

According to recent announcements by the Pensions Minister, funding for pension education projects in the UK will be extended. The project, which Defaqto called a positive contribution, will aim to educate employers long-term about the need for pensions in the UK.

The Principal Consultant for Pensions and Wealth Management at Defaqto, Matt Ward, was reported as commenting: "The role of the employer in the education of their staff on pension planning matters should not be underestimated. Employers are a unique touch point in the lifetime of the employee and are therefore in a position to provide educational and planning support to the employee on both retirement savings and income matters."

Ward reportedly continued: "The onus is on government and the financial services industry to acknowledge the importance of the workplace in future pensions provision and continue to find ways to engage consumers through this channel. It must be remembered that for many people access to financial services advice and products might only be feasible and affordable through their employer."
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