Company pension 'will be recruitment tool'
Offering a good company pension will become an increasingly important way for British businesses to recruit the staff they need, it has been suggested.
Rachel Vahey, head of pensions development at Aegon, is convinced that companies that fail to adapt when the personal accounts pension system is introduced will lose out on the best employees.
Ms Vahey has insisted that when personal accounts are launched in 2012 there will be more of a focus on firms that offer the best company pensions and those that do not will be at a disadvantage.
"For employers, there will be cost implications and new responsibilities but these can be managed through forward planning and working with an adviser," she said.
"This could be a valuable reward and retention strategy."
Aegon is among the world's largest financial services firms, offering a variety of investment and pension saving products to customers in dozens of countries.
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