Final salary pension schemes a popular perk, study shows

Wed, 04 Oct 2006

Many UK workers believe that final salary pension schemes are one of the best perks in their job, according to new research.

In addition to the improved pension entitlement, the employees believe that bonuses, flexible working hours and holidays in excess of the statutory minimum 20 days are important, the study for Employee Benefits magazine discovered.

The survey, which was conducted by TNS, found that final salary pension schemes are popular among public sector workers.

Pension plans are also recognised by many managers as an important perk of their job.

Some six out of ten employees with occupational pension schemes stated that they were concerned about their financial future.

Cynthia Pinto, group director for head of social at TNS, said: "These findings suggest that if organisations are to get maximum return on their investment in benefits they need to tailor their packages to suit their workforce. One size won’t fit all."

Following recent government reforms, all UK residents will be entered into a national pension savings scheme with auto-enrolment.


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