At the recent National Association of Pension Funds conference, Zurich claimed that giving people advice about their pensions rather than making them join schemes would mean they value saving for retirement more.
The Head of Sales at Zurich, Mr Henry Tapper said that it was up to pension fund managers to make help available to those people wanting to join pension schemes, including instant access to how much people had saved and how much their pension is worth.
Our View
Everyone is still missing the fundamental problem of human nature - apathy. There have been many surveys of employees and (apparently) most favour being automatically enrolled into pensions so they don't have to think about it.
If pensions are available as 'opt in', rather than 'opt out', takeup will always be poor. Could it be that the Government really doesn't want us to save?