Pensions should not just be left to a specialist department, claimed a
British Airways pensions manager at a CBI conference.
Jenny Rosser told delegates that employers spend too much money on pensions
to allow them to be the sole responsibility of a specialised department.
She said, "I ask, should employers leave pensions up to the pensions
department? I think this is wrong, despite the fact that this is the way that
we do it at BA.
"Pensions cost employers a lot of money and because of this they should
be involved and communicate this to their employees."
Rosser said one of the reasons why the board should take the lead on pensions
is that employees have unrealistic expectations of the worth of their pensions.
"We issued a card to our employees with contributions on one axis and
how much they could receive on the other.
"Seventy per cent of our employees where shocked at how low their
pensions will be."