We are already seeing businesses increase pension funding, so it is time for employers to take stock, move on from automatic enrolment minimums and understand that if they don’t, their offering may be uncompetitive and fail to help their employees save adequately for retirement.
Exactly what contribution model and funding rate you use to achieve this goal is one that requires careful consideration and support from a partner, expert in the field of pensions design.
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Josh Hayes is senior pensions and financial wellbeing consultant at Howden Employee Benefits & Wellbeing
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