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

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions member?

Login

Jasmine Urquhart
Author spotlight

Jasmine Urquhart

Senior Correspondent at Professional Pensions

More on Industry

TPO launches investigation into cyber incident

TPO launches investigation into cyber incident

Ombudsman confirms it is co-operating with relevant authorities on cyber incident

Martin Richmond
clock 06 June 2023 • 1 min read
Maps CEO Caroline Siarkiewicz will step down in January 2024

Maps CEO Caroline Siarkiewicz to step down

She will not be taking up a second term in the role and will step down in January 2024

Holly Roach
clock 05 June 2023 • 1 min read
DWP publishes first gender pensions gap statistics

DWP publishes first gender pensions gap statistics

Data shows the overall gender pensions gap stood at 35% between 2018 and 2020

Martin Richmond
clock 05 June 2023 • 8 min read
Trustpilot