28 September 2010
Scottish Widows' Workplace Pension Report has
highlighted the importance of pensions from an employee's
perspective.
The report shows that 44% of employees view the company's
pension scheme as an important employee benefit when searching for
potential employers.
63% of employees surveyed said that they would stay in their
current job rather then look for new employment should their
employer increase their contributions into the pension scheme.
Financial education was also a key factor for employees, with
40% of the employee's surveyed saying that their employer should
offer financial advice if there were access to a pension scheme and
55% would like general information on pension benefits.
The survey also identified that 42% of those that took part who
were in a defined contribution (money purchase) scheme were not
aware of the contributions that their employer paid into the
pension pot.
Ann Flynn, head of marketing communications, corporate pensions,
Scottish Widows, said:
"As the face of UK workplace pension provision continues to
change, it is important for employers to engage with their
employees to help their understanding of the benefits available to
them as the individual has to take responsibility and make the
correct decisions about their short, medium and long term financial
planning needs."
For information on workplace pension schemes click
here
