HUNDREDS OF thousands of staff will not be able to benefit from pension reforms coming into force this week as two major surveys are thought to have found many big companies are unprepared for the changes, according to the Daily Telegraph .
Research by Prudential suggests around 1,200 businesses will not have completed planning for their employee benefit changes before "A-day", when new pension "simplification" rules come into force. One in eight of these companies claimed costs for rolling out the reforms for employees were prohibitive, and one in six said a pension scheme shortfall had to be the company's priority. A second study by Close Wealth Management also found four in 10 of employers have not prepared adequately for A-day, although just over half were communicating the changes to higher earning executives. Public, ...
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