Fri, 26 Aug, 2016
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Workers 'want pensions advice from employers'

Almost nine-tenths (87 per cent) of experts believe that employees look to their bosses to aid them in understanding the ways in which to save for their pensions, according to the National Association of Pension Funds (NAPF).

NAPF chief executive Joanne Segars comments: "Employees do not just want standard information, they want in-depth information, much of which could be bordering on regulated advice."

She adds that the skills of an employer must be widened because of this fact, especially in being able to judge the difference between defined-benefit and defined-contribution schemes.

Ms Segars concludes that it can be a "fine line" for employers.

In related news, Baring Asset Management stated in recent days that consumers must begin to take a more proactive approach to planning for their senior years, noting that the target age for retirement will slip further away unless correct provisions are made.