Employers are now able to promote group personal pension and stakeholder pension schemes to their employees, under changes made by the Treasury to the Financial Promotions Order (FPO) which start today.
The changes fall within the Financial Services and Markets Act 2000 and the Treasury will issue guidance to employers explaining how they will be affected by the new amendment and to what extent they can communicate with their staff next week. The Treasury says the new exemption applies to all types of promotion, both oral and written, and advises employers it would be good practice to inform employees of this. Pensions strategy director at Legal & General, Adrian Boulding says an employer led communications programme could be crucial in guiding workers out of their apathy towards pensi...
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