Research from BBS Consultants & Actuaries has found that 97% of younger employees (under 40) are not thinking about their pensions at all despite employers emphasising the important role that employee benefits play in the workplace.

In a survey issued in December 2011, which interviewed around 100 plan sponsors and trustees, the company also found that 22% of new employees are not interested in their pensions and only half of the sponsors considered a company scheme as vital.

With regards to auto-enrolment, only 28% of sponsors have reported any questions being asked by employees about the legislative changes coming into practice. However despite this lack of interaction among employees, the survey found that trustees and sponsors are well ahead in their understanding of pensions. 73% of trustees felt that they have complete knowledge of their roles and responsibilities.

In addition, statistics showed that information regarding pension issues is mostly gained from advisors (90%) whereas the government is not seen as a source of information by any respondent.

BBS consulting actuary Michael Harvey said: “We were pleased to find that pensions are high on the agenda for employers and in particular that they are gearing up for auto-enrolment. However, comments were received that the government is being too slow in putting in place all the detail and it was enlightening to see that nobody considered the government as a source for pensions information.”

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