Company pensions are best benefit
Jennifer Lowe, 14 October 2008
A good company pension is the most highly rated employment benefit, finds Alexander Forbes Financial Services.
Three out of four workers cite a good company pension scheme as an important factor when considering a new job, up from 68 per cent in 2007, according to Alexander Forbes Financial Services’ 2008 Return on Pension Expenditure Survey.
Having a pension came top of the poll, ahead of other benefits such as flexible working, a bonus or extra holiday.
However, despite these results, more than a third of employers say they are unclear about whether their pension is appreciated by their staff.
David Marlow, director at Alexander Forbes Financial Services, says, ‘Vast sums of money are committed to pensions by UK employers and this expenditure is likely to increase sharply in 2012, with the introduction of the Government’s Personal Accounts system, which will compel all employers to provide pension provision to their staff.
‘There is now a clear and urgent need for employers to better understand and measure their return on pension investment if they are to reap the reward on this expenditure as better corporate performance.’
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