NEWS & EVENTS

A survey undertaken by the Chartered Institute of Personnel and Development (CIPD) highlights the task ahead for local businesses in communicating forthcoming changes to pensions.

That's the view of Phil Cookson, employment specialist at Roythornes solicitors who was commenting on the research by the CIPD which showed that more than half of workers were unaware that they will be auto-enrolled into a pension plan as part of reforms which come in to force next year.

The changes, which are being phased in, oblige all employers to enrol their employees in a scheme.  The survey showed that 18-24 year olds were the least aware, with less than a third of this age group being aware of the changes.

Speaking about the results, Phil said:

"The changes are good news for the many employees who make no or too little pension provision.  With an ageing population it will be more important than ever for employees to make some provision of their own and by starting a scheme with their employer, it will hopefully get them into the habit of saving for their retirement."

Phil went on to say some of the regions employers may also need further information.:

"There is clearly a communications gap to be filled by employers and Government. If over half of employees are not aware of the changes, the chances are some employers are also not up to speed with their obligations and time is running out if the changes are to be phased in properly."

The new pension scheme is one of the topics being covered at a seminar being held by Roythornes on 29^th September in Peterborough.  Anyone wishing to attend should contact Mark Dodds on 01775 842596 or markdodds@roythornes.co.uk.