Pension compulsion needs communication - Winterthur Life

The life insurance group says while automatic enrolment solves one part of the problem of encouraging improved employee take up of group pension schemes, a second and perhaps a more important part is to provide an understanding of the scheme to its members. Ian Colquhoun, head of employee benefits and strategic relations at Winterthur Life, cautions many corporate clients provide automatic enrolment using a default contribution level, which can be set at a generic rate within the firm, along with a default fund option. He says a communications programme is necessary as the default fund ...