In depth: Personal view - Communications: are six-monthly meetings enough for schemes?

Pensions Week, June, 2009

Byline: Chris McWilliam

Pension scheme members need access to good quality information to be able to make informed decisions about their pension arrangements. This is particularly true for defined contribution (DC) plans, where the risk of delayed investment of contributions, poor investment performance and poor annuity rates fall upon the member.

The sponsoring employer has a perceived moral duty to ensure its employees are well informed about the arrangements provided. Indeed, when a pension scheme is understood by its members, it becomes a more effective recruitment and retention tool, which is surely the reason the employer established it in the first place.

Employers can seek to engage their employees using a variety of different...

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