We are seeing an increasing number of employers employing annuity brokerage services to help staff make appropriate retirement income decisions. However, delays in data transfer are causing problems. Helen Morrissey looks at why these delays are occurring and what can be done about it.
Employer responsibility regarding their staff's pensions and retirement is constantly evolving. This Autumn we will see the largest employers starting to auto-enrol staff into a qualifying pension scheme. However, there is an increasing need for employers to extend the support they offer to staff into the at and post retirement phase. The abolition of the default retirement age means employers can no longer rely on employees retiring at 65. If this is not well managed employers could find themselves with employees working longer because they have to, not because they want to. In addition...
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