Employer task force on pensions has a key role to play - Norwich Union

Article date: 1 April 2003

Commenting on the announcement today by the Department for Workand Pensions that Sir Peter Davis has been appointed to chair thenew Employer Task Force on pensions, Peter Hales, Sales &Marketing Director of Norwich Union Life said:

“This new Task Force has a key role to play. The reasonemployers are vital to success in terms of pensions is that theworkplace is where many of those who are currently under pensioned,but who could afford to save more, are most often to be found.

“We need a new, concerted communications approachinvolving the Government, employers and the pensions industry toget the important messages across, namely that people are livinglonger and need to be saving an increasing proportion of theircurrent income.

“As part of this communications approach, it is criticalthat more is done to properly engage and incentivise employers tostart championing the cause of company related pensions with theiremployees. Employers need to be actively involved in the processand must be willing supporters of employee pension provision. Thereis a danger that employers currently have little reason to beenthusiastic about being a focal point for pension provision,advice or information and this will need to change”.


Notes for editors

  • Norwich Union is the UK’s largest insurer. It is aleading provider of life, pensions and investment products and oneof the leading IFA providers. IFAs provide around 75% of thecompany’s long-term savings business.
  • Norwich Union has strategic alliances with building societiesand other leading UK brand names including Tesco Personal Financeand The Royal Bank of Scotland Group.
  • Norwich Union’s news releases are available on the Avivaplc website at www.aviva.com
  • A selection of images are available from the Norwich UnionNewscast site at www.newscast.co.uk

Press office contacts:

James Evans - 08703 66 68 78 / 07790 487105
Ian Beggs - 08703 66 68 71 / 07790 487 533
Louise Goffee - 08703 66 68 70 / 07810 057362

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