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New FSA guide offers employers talking cure for staff pensions

The Pensions Regulator and the FSA have published a new information leaflet designed to help employers talk to staff about the merits of their pension scheme.

The guide suggests answers to questions that employees may ask their employer and other sources of information that staff can refer to.

The publication encourages employers to look at activities they can undertake in order to help their employees get greater value from the scheme, the regulators say.

Pensions Regulator chair David Norgrove says: “As defined contribution becomes a more prominent part of the pensions landscape, members will bear a greater direct responsibility for the outcome of their savings. We expect employees will approach their employers for support and hope this leaflet will encourage all firms to talk more comfortably about pensions.”

Aegon head of pensions development Rachel Vahey says: “This is a very welcome piece of kit. Employers often struggle with what exactly they can say to their employees about pensions without straying into advice.

“This could not have come at a better time. Many employees will be seeing falling pension fund values in their yearly statements and by outlining what employers can say and do, they will hopefully feel in a better position to encourage workers to continue saving towards the retirement income they want.”

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