|
07-Jan-08 10:10 [Pensions]
TPAS urges employers to be given 'free reign' The Pensions Advisory Service (TPAS) has called for employers to be given free reign to promote pensions schemes to workers.
According to the organisation, the number of people taking up a pension was greatly increased in a company when an employer was given the chance to properly promote the scheme to the workers.
Des Hamilton, technical director at TPAS, said: "In my own experience, if you are given free reign to promote the scheme properly to all employees then you can get 90 plus per cent voluntary take-up. If you don't, and it's just on the basis of some sort of paperwork, like booklets, or an announcement or something like that, then you find the take-up can be as low as 50 per cent".
He added that one of the problems which caused a low uptake of pensions was a lack of understanding and there is a "mental block for many people when it comes to engaging".
Only 39 per cent of the population were in a company or private pensions scheme in 2005, according to a BBC report.
The government's launch of a public consultation into service charges, gratuities, cover charges and tips will include proposals to make tipping fair, it has been revealed.
Find out more>
People failing to save into their pensions will be reminded by the government to do their best to honour pension schemes, as cutting out payments altogether could spell trouble in later life.
Find out more>
New York's attorney-general Andrew Cuomo has urged executives of top companies to forgo their bonuses for the year, it has been revealed.
Find out more>
|
