Pension saving falls down priority list for many

LCP survey finds most employers have seen staff requests to stop or reduce contributions

Jasmine Urquhart
clock • 1 min read
LCP research finds most employers have seen staff either cut or reduce pension contributions in the last year
Image:

LCP research finds most employers have seen staff either cut or reduce pension contributions in the last year

Pension saving has fallen down the priority list for many employees over the last year, according to a survey by Lane Clark & Peacock (LCP).

The 2023 Financial Wellbeing report, which surveyed 500 employers and 10,000 employees, found that half (51%) of employers said employees had requested to reduce pension contributions in the last y...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Industry

Workers concerned about potential pensions tax changes

Workers concerned about potential pensions tax changes

Penfold research finds majority are concerned changes could be announced in the Budget

Martin Richmond
clock 06 October 2026 • 2 min read
Webinar: The rise of the total portfolio approach – register now

Webinar: The rise of the total portfolio approach – register now

Webinar will be held in association with L&G at 10am on Friday 9 October

Professional Pensions
clock 06 October 2026 • 1 min read
Budget could 'exacerbate' 76% pension lump sum withdrawal rate

Budget could 'exacerbate' 76% pension lump sum withdrawal rate

Among those aged between 55 and 64

clock 05 October 2026 • 2 min read
Trustpilot