Pensions fall into oblivion – and costs a great deal of money
Dagens Nyheter reports that four out of ten people that had a new job during the last three years cannot recall if occupational pension was even mentioned in the recruitment process, according to a survey by AMF. Carina Blomberg at AMF says that the results are surprising since a lot of employers invest a great deal in pensions and ought to communicate this in order to make the workplace more attractive.
imoveri shares this experience. According to our own data, more than 35 percent of the employees do not know what their pension offering is like, and this portion is even higher in certain groups. Despite the fact that pension costs comprise a large share of the total sum of the full Total Rewards package, many are unaware of the investments that are put into their future.
"Our experience is that companies generally fall short when it comes to how their investments in Total Rewards are communicated. The reason is often that employers don't know what employees prioritize. Then, companies tend to look how they have done in the past and look at what others seem to be doing, instead of asking the employees directly. We believe that companies that want to address these widespread problems in our corporate world need to start with their own employees. We detail exactly what the situation is like in a specific company, so that one can optimize the investments accordingly", says Rolf Berg, founding partner of imoveri.
The article in Dagens Nyheter can be found here (in Swedish)