Earlier campaigns seem to have failed to reach the intended audience of around 1.3 million employers, with a large proportion of business owners still failing to find out about or make plans for the impending pension reforms. Employees also appear blissfully unaware of what it means to them as they work towards retirement. A report by Scottish Widows this year found that a staggering 52% of UK workers are completely unaware of the changes.
This lack of awareness and in many cases apathy, doesn’t come as a suprise to us. For more than a year we have been running regular seminars which have been well attended and very well received. Those taking the time out of their busy schedules have been left in little doubt as to the impact on their businesses over the next few years. But where were all the other businesses that were invited? Is it the case that they are already aware and have included the financial and administrative implications as part of their business plan?
From my experience at business meetings, networking events and meetings with suppliers, the answer to that question would be – “no”. The three words ‘Workplace Pension Reform’, more often than not doesn’t even solicit a response. Some people shrug their shoulders and assume it doesn’t affect them, some people are just waiting until the date arrives when they are forced to do something, but by that stage they will have no time to plan.
Lets hope the TV advert helps to start getting the message across. We will continue to try and educate businesses so that they can ease the transition for themselves and their employees, but people have got to want to listen.
Our next seminar Workplace Pension Seminar takes place on Thursday October 18th. I wonder how many savvy business owners will give up an hour of their time to learn about this momentous change for their business and their employees.
If you do want to learn more then click here for more details or to register.