Warburtons increases staff pension contributions

Warburtons has seen more than 376 pension scheme members of staff increase contributions in the last year following the introduction of its three-year engagement plan.


The family-owned baking organisation also reduced its auto-enrolment opt-out rates to 1%, down from 2.6% in October 2013.

Speaking at the annual National Association of Pension Funds (NAPF) conference in Liverpool, Anne Hunt, pensions manager at Warburtons, said: “We have seen scheme membership improve since our May 2013 staging date, especially the number of employees increase pension contributions.

“It has all been through down to the engagement project which has looked at investment strategies, contributions and user tools. It was decided to be set up to continually develop along the pension journey with the reforms.”

The organisation refreshed its existing communications to make these snappy and easy to understand for its 4,500 employees.

The engagement project’s plan for the coming year is to update its pension booklet for new starters and use it to communicate retirement to those reaching their retirement date, following the introduction of the 2014 Budget pension reforms next year.

The organisation also plans to segment pension communications to make sure it delivers the right messages to the right people at the right time.

Hunt said: “Our main focus ahead of the changes is to develop new communications for those that are joining and those retiring to have a better understand of choices available and know where to go for guidance.

 “We all understand how important this guidance is to members, after auto-enrolment, the organisation thought it would be business as usual, but we were so wrong, biggest changes is on its way and we need to be ready for April.

“Our challenge will be getting out to the number of sites we have to provide support to members reaching retirement. We are making sure to educate, it is key to achieving the best outcome.”