Dec 1 2008
Employees in the UK should be educated about pensions more than they are at present, it has been suggested.
During a round table discussion on the future of the pensions system, industry experts concurred that more effort is needed to make workers aware of the benefits of saving for retirement.
Christine Hallet, chief executive officer of Pointon York SIPP Solutions, said: "It is about communication [and] education. People aren't educated at a young age, when they go into the workplace in the first instance, about what their benefits, in the whole scheme of things, actually are."
Meanwhile, Tom McPhail, head of pensions research for Hargreaves Landsdown, agreed, saying that auto-enrolment into pensions could be used.
He added that websites, help lines and one-to-one meetings can all be used to enhance worker understanding.
The discussion, which was organised by Pointon York SIPPS Solutions, was held at a private members' club in London.
