Firms are failing to give staff adequate pensions guidance, JPMorgan Invest has warned. Its survey of FTSE350 companies found fewer than one-in-20 had their own active education programme in place, while a third failed to explain the full selection of retirement options to staff.
One-in-five (21pc) continued to focus solely on annuities, which seriously limited the choices available at retirement, said the firm. The research also found firms relied heavily on passive information...
This week's edition of Professional Pensions is out now.
Nearly 60% of UK employers consider defined contribution (DC) master trusts to be the "most suitable" pension fund for their employees, according to research by Buck.
Companies which have tried to dodge their pension duties by changing their identities are being "hunted" by The Pensions Regulator (TPR) in a crackdown on non-compliance with auto-enrolment (AE).
Removing liquidity restrictions would enable DC funds to capitalise on the potentially higher and safer returns that DB schemes have benefitted from, says Patrick Marshall.