Employees uninformed about A-day says research

More than a fifth of all companies in the UK have yet to inform their staff about upcoming pensions plan changes.

Only a tenth say that they have completed their employee communications. Pensions savings are to be overhauled in less than a month, on "A-day", April 6th.

Over 20 per cent of companies with 50 or more employees (around 8,000 businesses) say that they haven't informed staff of what A-day could mean for them or their savings.

Around 3,000 of these added that they were happy for their employees to find out the details either elsewhere or not at all.

The changes, which have been heralded as the greatest pensions shake-up since the universal system was introduced in 1908, are intended to simplify pensions and increase savings.

"The lack of employee communications is one of the key reasons for the pension crisis," said David Harris of Prudential, which commissioned the research.

"It's always been a challenge for employers to interest staff in pensions.
"Failing to inform and educate their staff about the pension reforms will result in greater confusion and prevent more employees from participating in company pension schemes.

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