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Pada says most businesses will seek advice on pension reform
Nine out of 10 firms are expected to seek external expert guidance on how to prepare for the Government's 2012 workplace pensions reforms, according to new research by Personal Accounts Delivery Authority (Pada).
Research from Pada - the body contracted to deliver National Employment Savings Trusts (Nest) - found two-thirds of small firms with less than 50 employees, are most likely to seek advice from accountants about auto-enrolment.
It also revealed that 50 per cent of all medium-sized firms - those with 50 to 499 employees - and large firms will seek advice from IFAs.
Approximately, 43 per cent of large companies are expected to turn to employee benefit consultants while 77 per cent of companies over the size of 10,000 will also gain guidance from consultants.
Roy Porter, head of intermediary distribution at Pada, said: "Our research shows, accountants and other intermediaries will have an extremely important role to play in helping their clients.
"They also have a part in dispelling some of the myths around the reforms."
He added: "Over the next year my team will be working with intermediaries around the country to provide information on Nest ahead of the scheme's launch in 2011.
"We aim to raise awareness around how Nest can complement employers’ existing workplace pension provision and help them comply at low cost."
