Some 15% of employer respondents feel that frequent changes to pensions regulation are a burden, according to research by Barnett Waddingham and Standard Life.
The Employers’ attitudes to the changing defined contribution (DC) pensions landscape report, which surveyed 76 employers, also found that more than half (52%) of respondents cite regulatory stability as the key factor for DC pensions success.
The research also found:
- Around a quarter (23%) of respondents say that addressing regulations is their short-term pension scheme objective.
- 29% of respondents include keeping up with and implementing these regulatory changes among their long-term objectives.
- 17% of respondents feel that they require more regulatory support for their pension schemes.
Paul Leandro, partner, workplace health and wealth at Barnett Waddingham, said: “Employers want to do what’s right by their employees and are yearning for regulatory stability to allow them to do so.
“Although our research shows there is still a long way to go to improve confidence that there will be such stability, recent announcements that the government has dropped plans to end or alter tax relief on pensions demonstrates a willingness to address employers’ concerns.”
Alan Ritchie (pictured), head of employer and trustee propositions at Standard Life, added: “Keeping up with regulation has continued to be a distraction for employers, which is a natural consequence of so much change in recent times.
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“If we now have a period of relative calm in regulation then employers will be able to focus on the list of things they really want to do for members to enhance their outcomes.”