More work must be done to build understanding of workforce pension benefits as research reveals five million people are unaware of pension tax relief, according to The National Association of Pension Funds (NAPF).
Its Workforce Pensions Survey, which questioned 1,494 British full and part time employees this February aged between 16 and 64, found over a quarter of all employees with access to a workforce pensions are ignorant of the tax relief available. Men are also more likely to be aware of the tax benefits of pension saving than women. The survey also found one in five people are unaware of how much their employer contributes or would contribute to their pension, if they were a scheme member. One in six employees who were members of work pension schemes said they were ignorant of employer con...
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