FSA updates guide to help employers promote pensions schemes
27th October 2005The FSA has updated its publication "Promoting Pensions to Employees" which offers guidance to employers who operate or are setting up Stakeholder or Group Personal Pensions for their employees.
The guide explains to employers what they can do to help their staff understand the pension scheme they are offering. Employers, who meet certain conditions set out in the guide, are now able to promote their pension scheme to employees without authorisation from the FSA or otherwise breaching the Financial Services and Market Act 2000 (FSMA).
FSA Director of Retail Policy, Dan Waters, said:
"Joining a workplace pension scheme is one of the most important decisions people make during their working lives, and for most people, benefiting from their employer's contributions is likely to be to their advantage. Employees could therefore benefit from learning more about the pension schemes offered by their employers. The guide explains in straightforward terms what employers can and cannot do when promoting their pension scheme to staff."
