Pension info not enough to encourage saving - Hewitt

Instead, employers have to educate and communicate with their workforce if they want to incentivise people to save for their retirement, the consultancy firm says. The government is trying at the moment to compel employers to provide their workforce with further information about pensions in the hope it will encourage long-term savings. However, Hewitt Bacon & Woodrow says, giving people more information will not be enough to trigger a change in people's savings behaviour. Innovative plan designs such as starter contribution rates, default investment strategies and escalating contr...