UK - Work and pensions secretary Andrew Smith has launched a new information pack to help employers provide advice to staff.
The government pensions pack will be distributed to employees at 100 companies to determine whether they make changes to their financial arrangements as a result of receiving information and advice.
The pack – produced by a consortium including the Trades Union Congress, Small Business Council, and the Association of British Insurers – includes information on the state system, occupational pensions, useful sources of pensions’ information as well as a section that answers common pensions questions.
But Aon Consulting principal and actuary Paul McGlone says the pack does not go far enough. He believes it should encourage people to look at other forms of saving aside from pensions, such as ISAs, property, or inheritance.
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