A free guide that takes the mystery out of Bermuda's mandatory pension scheme -- which comes into effect next year -- is available for local firms and workers.

The glossy, 24-page Bermuda Pension Guide is to be distributed through news stands all over the Island.

Bermuda Marketing publisher Ian Coles said yesterday his research had found both employers and employees were confused about the changes they should expect in the coming months.

"The implications are enormous but the general understanding has been minimal so far,'' he said.

"As such we have attempted to clarify how the system will work, what it will and will not cover and the essential differences between one kind of pension plan and another.'' He said pension providers had backed the guide by paying for advertisements in it as well as the explanatory notes about their particular products.

"In addition, Government's Assistant Financial Secretary, Peter Sousa, has written a very user-friendly question-and-answer segment.

"There's even a glossary of all the obscure financial terms we'll all have to get used to.'' It was published by Bermuda Marketing Limited and printed by the Bermuda Press in association with the Island's pension providers and with assistance from the Finance Ministry.

BUSINESS BUC