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23-Jul-08 11:15 [Pensions]
Staff 'should be kept informed about pension developments' Companies should endeavour to keep their staff informed about developments in workplace pension schemes, to ensure they maintain faith in them, according to one expert.
Hewitt Associates' report, The Elements of an Effective Buyout, recommends that firms planning to sell their pension schemes should communicate with everyone involved early on in the process, reports the Financial Times.
"Careful, honest and unambiguous communication at this stage can pay healthy dividends later in the process," the report states.
Commenting on the guide, Mark Brooks, communications chief for National Association of Pension Funds, told the news provider that the advice it offers is "essential", adding that managing communication effectively is one way to rebuild confidence in workplace pension schemes.
Meanwhile, the Trade Union Congress recently praised the fact 86 per cent of pension scheme boards have one-third of trustees directly nominated by members within six months of this minimum requirement being implemented.
The body asserted that this news may make the government up the basic requirement for participation.
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