It also says that HR directors are “at the heart of company pensions decision-making” and sit as trustees on a quarter of occupational pension schemes. Only finance directors are more prevalent, with 30% of them sitting on both the employer’s board and the pension scheme board.
“HR directors already go to considerable lengths to ensure that employees understand the pension benefits available, with 60% offering a website, for example,” says NAPF chief executive, Joanne Segars. “We predict the role of HR directors in the world of workplace pensions will become even more important when Personal Accounts are introduced in 2012.”
Results also reveal that the average contribution made by employers into Defined Contribution schemes is 7%. Nearly one in 10 contributes 10% or more.
