Employee Benefit’s survey, which was carried out in June 2011 among readers of Employee Benefits magazine and users ofhttp://www.employeebenefits.co.uk, received 261 responses
• 74% say complying with the 2012 pension reforms will increase costs.
• 38% intend to review future pay increases to help fund compulsory employer contributions, while 30% will absorb cost increases in other business areas.
• 71% only offer a defined contribution scheme, just 4% only offer a defined benefit arrangement and 25% offer both types of pension scheme.
• 10% offer an online platform for staff to manage all their workplace savings, while 5% will be implementing one and 24% are considering the idea.
• 70% feel responsible for employees’ long-term financial wellbeing and 74% say it is part of their HR strategy to offer a high-quality pension plan for staff.
About the respondents
Read more from the workplace savings and pensions research