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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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 Dates: DateEventMarch 2005PublishedKeywords: 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 Depositing user: Strathprints Administrator Date deposited: 13 Mar 2008 Last modified: 11 Feb 2021 09:51 URI: https://strathprints.strath.ac.uk/id/eprint/5568
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