Employers failing to communicate pension changes

Bosses are not doing enough to inform employees about changes to their pension schemes, according to exclusive research for PRWeek by polling firm NOP.

An increasing number of companies, including Marks & Spencer, Ernst & Young and Abbey National, are axing their final salary pension schemes for new staff in favour of money purchasing schemes. The move effectively transfers risk to the employee.

According to NOP, 51 per cent of the UK's working population feel ill-informed about these and other changes to pensions.

The survey suggests more must be done by internal comms teams to inform workers of pension changes. Just 37 per cent cited their employer as the main source of information on this subject. Almost as many - 28 per cent - named the media.

The financial services industry was the main source for 15 per cent of those surveyed, with 14 per cent naming their friends and family.

Analysis, p9.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in