Staff want pensions presentations to be easier to understand

Nine in 10 workers feel that pensions should be made easier to understand, according to research.

The study by financial services firm B&CE Benefit Schemes found that one in four employees (26%) believed that employers or financial experts should provide advice on pensions in the workplace.

Four in 10 of the 780 UK employees surveyed also said free pension advice from financial experts would be useful, and one in three said that education on pensions should be taught in schools. 

Less than one in five believed that being sent an information leaflet from the government (18%) or an employer (10%) was of use.

Half the respondents (51%) also regarded an occupational pension scheme with employer contributions to be a significant factor when looking for a new job.

John Jory, deputy chief executive of B&CE Benefit Schemes, said: “It is encouraging to see that UK workers are supportive of pensions education, particularly at a time when too few people are making any provision for their retirement. 

“Too often we are told to save for retirement, but it seems that just telling people that they need to save doesn’t work. People need to understand pensions first, and it appears that the best way of doing this is through presentations.

“Workers benefit most from being able to interact and ask questions, and the workplace is the favoured forum for this to take place.”

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