A survey by Winterthur Life has found that financial advice is crucial when it comes to getting employees to sign up to a company pension.
The companys' latest research into the 'impact of marketing on employee take-up of pension schemes' showed that 84% of staff not part of a scheme are likely to join, and advice is now being seen as an essential part of pension planning. Of those who were already part of an employers pension scheme, 90% said that they would take further action to review their pension.
The most common things asked for were a review of investment choices (28%), an assessment of pension planning (26%) and how to go about finding independent financial advice (22%).
Our view
Most company pension scheme advisers only advise the employer and take no liability for the individual employee.
Need a company pension scheme for your staff? Struggling with a scheme that you have been offered by your employer with no advice? Contact us.