The call comes following the publication of new research "Talking Pensions" at the Association’s Annual conference in Manchester.
The survey found that almost all (98%) of employers said that amending the legal regime would help to improve communications while 94% said that clearer guidance from the Pensions Regulator and the Financial Services Authority would help make communication easier. Over two-thirds (69%) said that a legal indemnity would help.
Whilst the majority (98%) believe that employers should have a role in providing information and support to employees on pensions, a majority (57%) also felt the law prevents them from doing so.
Indeed the NAPF research shows that pensions are the benefit employers feel most constrained about talking about, despite the fact that is often the most valuable employee benefit an employer will offer. 75% of employers said they felt more comfortable discussing private healthcare than pensions. 73% were happier talking about life assurance and 68% company share schemes.
Launching the report, NAPF Director of Policy, Nigel Peaple, said:
“Employers want to help and guide their employees on planning and saving for retirement but fear falling foul of the law. The Government must examine why employers feel unable to talk about the pensions they offer and be prepared to change the law if necessary."
