Employers concerned about cost and admin of new pension regs, say advisers

7th Nov 2012

Employers concerned about cost and admin of new pension regs, say advisers

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Steve Ogborn


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More than three quarters (81%) of corporate advisers say that the cost and administration of auto-enrolment are among employers’ top worries when it comes to the Government’s landmark pension reform, ICM’s research for Aviva shows.

• 57% are providing additional support to clients who don’t fully understand the pension reform regulations.
• 72% report their clients are less than 25% prepared for the pension changes.
• But two thirds of advisers (67%) say that employee opt-out rates will be less than 30%.

The research also shows that corporate advisers remain focused on helping their clients understand the new regulations, creating check-lists of what actions they need to take, and liaising with pension providers.

Aviva’s Managing Director of Corporate Benefits, Graham Boffey, said:
“We’re recommending employers put aside at least 18 months for their preparations….Employers and their advisers also need to focus on ensuring they have a robust and efficient compliance process in place to keep track of on-going employee changes and updates.”

To find out more contact David Perry on 020 7845 8300 or david.perry@icmresearch.com

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Steve Ogborn

020 7845 8307

steve.ogborn@icmresearch.com