Employers ‘feel duty-bound’ to prepare workers for retirement

The vast majority of employers believe they have a duty to help their staff prepare for retirement, according to a new survey by the National Association of Pension Funds (NAPF).

Its research shows that 89 per cent of company managers feel a strong sense of responsibility towards their employees in terms of providing retirement provision.

Of those surveyed, 91 per cent said they thought offering staff a company pension helps them to define themselves as a responsible employer.

Nigel Peaple, director of policy at NAPF, said: "The views of those at the heart of companies show that employers view their workplace pension as something deeper than just a normal part of the employment package."

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The survey also found however, that 60 per cent of managers believe there is a lack of understanding among their staff when it comes to pensions and retirement.

Separate research carried out by NAPF earlier this year revealed that 22 per cent of employees who have access to a company pension scheme do not know how much their employer contributes.