Employers could be encouraged to educate their workforces on personal finance, following the introduction of pension auto-enrolment.

Wendy Taylor, HR director at supermarket chain Morrisons, which runs such an education scheme for employees, told delegates at the National Association of Pension Funds conference on Thursday that her company believed it would take two or three years to educate staff on the importance of saving for a pension. According to a survey, 45,000 of Morrisons staff felt their understanding of finance had improved thanks to the initiative. Around 9,500 have signed up for a pension.