Aon have issued their annual Pensions at Work Report and have highlighted concerns that employees are losing faith in their employers and their company pension scheme creating a "trust gap" that is leading to people not saving for their retirement.
The survey showed that only 19% of employees actually trusted their employer to offer the right information for retirement.
Our view
No surprises there then! This "trust gap" has been imposed by poor Government funding rules, poor regulation and a poor investment climate.
As ever, we refer back in the annals of time to suggestions that we have made to the finance industry regulator, the Financial Services Authority (FSA) and the Treasury. What is needed is what happens in the US and in other countries - a requirement that employers allow financial advisers in to their premises to educate employees at least once a year.
This will not be popular and certianly employers will not be keen to pay and employees will not want to attend. Slow but sure education is the way forward.
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