Meetings show benefit of pensions
20 April 2004
New research from B&CE has shown that employees are more likely to contribute to pension schemes if they have attended meetings on the subject.
B&CE, the largest supplier of financial services to the construction industry, discovered that where staff had attended presentations about an employer's pension plan, there was a 30 per cent increase in those who went on to make contributions.
Research also showed that 82 per cent of employers are in favour of staff contributions.
John Jory, deputy chief executive of B&CE Benefit Schemes, said: "It is encouraging to see that most employers do think it is a good idea and in principle they welcome the idea of us making presentations to staff to explain how to do it."
There are incentives for employers to hold these meetings as well. B&CE found that employers who to match staff contributions find it easier to hire and hold on to staff.
Mr Jory added: "Some employers are concerned about the logistics of doing this in the construction industry so we need to find ways of doing this without disrupting work patterns, whilst at the same time giving people access to the information they need."