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Corporate pension complaints on the increase
Research by MetLife Europe has revealed that one in five finance directors has received a complaint about its corporate pension scheme.
Of the 200 directors surveyed, 11 per cent said they believed that employees would have more confidence in its scheme should they introduce a guarantee option even at the increased cost to staff.
The study among finance directors shows 22 per cent have seen an increase in concern about pension performance with complaints about defined contribution schemes outstripping those about defined benefit schemes.
Dominic Grinstead, managing director of MetLife Europe Limited, UK Branch, said: ''Companies are reporting increasing concern from staff about the performance of their pension schemes following the volatility of the last 18 months.
''People investing in defined contribution schemes will have seen falls of up to 20 per cent in the value of their funds in the past year even though the market has now shown signs of recovery."
