Company pension scheme advice and pension rights

With the relative decline in the value of the basic state pension and the recent debate over pension rights, access to an occupational pension scheme is an increasingly significant benefit of being in work, and a company pension scheme is widely acknowledged as a valuable tool in recruiting and retaining staff.

There are various types of employee pension schemes and pension benefits that are available - for example, final salary company pension schemes, defined benefits pension schemes and stakeholder pension schemes.

There are strict legal controls on who can give financial advice, and employers should therefore ensure that they do not advise employees on the best pension option for them.

Employees cannot be required by their employer to join a particular scheme, or indeed any scheme. There are also employment law issues that arise from pension provision that needs to be taken under consideration. EEF can help with company pension scheme advice and can help fully explore the pension responsibilities that you have as an employer and the pension rights your employees may be entitled to.