Pension pressure in UK

Fri, 02 May 2008

The National Association of Pension Funds indicate that a pension is the most important benefit that an employer can provide to his employees. In the UK, however, although pensions may be a major benefit, pensions are under pressure as many fail to understand their function.

Both employees and employers were confused over pensions, according to a recent NAPF study. The chief executive of NAPF, Joanne Segars, reportedly commented: "Our research has shown that employees who don't have a pension available where they work would be more likely to feel loyal to their employer if there was a pension on offer."

Segars reportedly continued: " Recruitment and retention is still an important reason to operate a pension. It's something employees still look for when choosing a job. The real issue is the level of contributions being made to pensions . We have seen the average amount paid in by employers decline in recent years."
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