Almost a quarter of UK businesses have not begun planning the implementation of auto-enrolment into workplace pension schemes in time for 2012, Aon Hewitt says.
Aon Hewitt's latest research claims 23% of businesses have yet to consider the changes, which will see all employees with more than three months' service and earning £7,475 or more enrolled into a workplace scheme or NEST.
The consultancy's latest figures on defined contribution (DC) pensions shows income for employees aged 30 with a fund of £15,000 fell from £19,442 to £18,283 over November.
Similarly, the Aon Hewitt DC index projects pension incomes for 60-year-olds with £150,000 fell by £86 from £10,648 to £10,562, and 65-year-olds with the same fund suffered a decrease from £7,825 to £7,760.
"[The RDR] will potentially reduce the availability of advice for employers and employees; advice which is badly needed to ensure the success of financial planning," says Richard Strachan, senior consultant at Aon Hewitt.
"Employers therefore need to consider how the new auto-enrolment regime will affect them and to ensure that their arrangements are fit for purpose.
"Furthermore, since the index this month reveals continued volatility in the nation's pension savings, this unpredictable position means that employees require both guidance and reassurance from their employers."
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