Cambridge University Press has provided employees with the opportunity to attend financial education seminars around its stakeholder pension scheme, in order to enable them to make informed decisions around saving for the future.
The provider of its defined contribution (DC) stakeholder pension scheme, Norwich Union, visited the firm’s workplace five times during May and June, conducting three 90-minute sessions during each visit.
The sessions were split into three sections providing employees with general pensions education, guidance on the Norwich Union stakeholder pension scheme, including the extent of information available online and help in interpreting their annual pension statements.
Janet Bulloch, pensions and benefits director at Cambridge University Press, said: “Norwich Union is keen to encourage employees to use the online facility, and we want employees to be more proactive with their pension scheme. We want them to actually look at their pension and make considered decisions.”
The stakeholder scheme offers employees a standard 3% employer contribution, with the publisher matching employee contributions up to 6% on top of this.