Title
Contents
Acknowledgements 6
The Authors 7
Abbreviations 8
Glossary of terms 9
Summary 14
1. Introduction 18
1.1 Background to the research 18
1.2 Research aims 19
1.3 Methodology 20
1.3.1 The interviews 20
1.3.2 Analysis and presentation of findings 20
1.4 Report outline 21
2. Tasks undertaken by intermediaries 22
2.1 Pension-related tasks 23
2.1.1 Accountants 23
2.1.2 Actuaries 23
2.1.3 IFAs 24
2.1.4 Lawyers and solicitors 25
2.1.5 Pension consultants 25
2.2 Non-pension-related tasks 26
2.3 Triggers for contact between employers and intermediaries 27
2.4 Frequency of contact between intermediaries and employers 29
3. Relationships and communication between intermediaries and employers 32
3.1 The basis of a strong relationship 33
3.2 Intermediaries influence 34
3.3 Key factors influencing how intermediaries perceive relationships 35
3.4 Effective interaction 36
3.5 Communication methods and effective interaction 38
3.5.1 Face-to-face communication 38
3.5.2 Written contact 40
3.5.3 Telephone communication 40
3.5.4 E-mail communication 41
3.5.5 Other methods used for effective communication 42
4. How intermediaries source, evaluate and share information 44
4.1 Online channels and sources 45
4.1.1 Preferred channels of information online 48
4.2 Industry press channels and sources 49
4.3 The value of face-to-face channels and sources 50
4.4 Preferred sources of information 51
4.5 Tailoring information to an employer's needs 52
4.5.1 Quality checking of information 52
4.6 Sharing information with other intermediaries 54
4.7 Key issues for Intermediaries when sourcing, evaluating and sharing information 56
5. Services provided by intermediaries to employers 58
5.1 The process of delivering services to employers 59
5.2 Differences in providing services according to employer size 61
5.3 Providing pensions advice 62
5.4 Methods of delivering services 63
5.5 The role of fees and payments 64
5.6 Key issues regarding services provided by intermediaries 66
6. Intermediaries and the forthcoming workplace pension reforms 68
6.1 Awareness and knowledge of the workplace pension reforms 69
6.2 Current sources of information used to gain information on the reforms 70
6.3 Intermediaries' perceived information sources for the workplace pension reforms 72
6.3.1 Timing of information requirements 72
6.4 Preferred sources of information relating to the reforms 73
6.5 Informing employers about the changes 74
7. Conclusions 76
7.1 Intermediary/employer relationships 76
7.2 Influence 77
7.3 Providing information to employers 77
7.4 Sources of information 78
7.4.1 The role of fees 79
7.5 The workplace pension reforms 79
Appendix A. Research design 82
Appendix B. Pilot topic guide 88
Appendix C. Main stage topic guide 96
Appendix D. Interview confirmation letter 104
References 106
Table 4.1 A non-exhaustive list of media and industry professional internet sources which were spontaneously mentioned as being used by intermediaries 47
Table 4.2 A non-exhaustive list of industry professional and trade press publications spontaneously mentioned as being used by intermediaries 50
Table A.1 Size of business with which the intermediary does majority of their business 83