According to a new report published by the UK Department for Work and Pensions, employers plan to consult not only government authorities but also independent financial advisers and industry bodies over the implementation of new personal accounts under the planned national pension savings scheme.
The study forms part of a program of research and analysis to gather evidence to inform the UK government’s proposals on personal accounts. The report presents findings from research carried out on behalf of the Department for Work and Pensions by BMRB.
In terms of advice and information needs, the survey showed that employers expect to receive information about the new scheme from the government, but indicated that they would be likely to seek advice from accountants, independent financial advisers, trade unions and industry bodies.
Among the other main findings from the in-depth face-to-face interviews with a range of employers was that there is strong support for automatic enrolment across all types of employers.