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Barriers to pension scheme participation in small and medium-sized enterprises

Byrne, A. and Harrison, D. and Blake, D. (2005) Barriers to pension scheme participation in small and medium-sized enterprises. Pensions: An International Journal, 10 (2). pp. 144-151. ISSN 1478-5315

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Abstract

Large sections of the UK population are failing to make adequate provision for their retirement, and one area where provision is notably poor is among people working for small- and medium-sized businesses (SMEs). Information was gathered from interviews with individuals from a wide range of organisations active in the pensions market, for these companies to shed light on the particular barriers to pension scheme participation in this sector in which over 40 per cent of the working population is employed. It was found that many finance directors are sceptical of the benefits of providing pensions for their employees and deliberately structure their pension schemes to avoid high participation rates. It was also found that financial advisers and pension providers are reluctant to promote pensions in companies where they perceive the management to be unsupportive and where there is no clear profit margin. The authors suggest one way in which management could be motivated to encourage pension scheme participation among their employees.

Item type: Article
ID code: 5568
Keywords: pensions, enterprises, participation rates, independent financial advisers, employee benefit consultants, Commerce, Finance, Organizational Behavior and Human Resource Management, Economics and Econometrics
Subjects: Social Sciences > Commerce
Department: Strathclyde Business School > Accounting and Finance
Related URLs:
    Depositing user: Strathprints Administrator
    Date Deposited: 13 Mar 2008
    Last modified: 04 Sep 2014 16:44
    URI: http://strathprints.strath.ac.uk/id/eprint/5568

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