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

TPR says role of actuaries becoming 'increasingly central' as system evolves

TPR says role of actuaries becoming 'increasingly central' as system evolves

Growing focus on the outcomes rather than participation or accumulation

Jonathan Stapleton
clock 23 April 2026 • 2 min read
PASA publishes default retirement guidance

PASA publishes default retirement guidance

PASA says sector faces operational challenges as default retirement solutions are introduced

Holly Roach
clock 23 April 2026 • 2 min read
Women in Pensions 2026: Nominees revealed and entries open!

Women in Pensions 2026: Nominees revealed and entries open!

People have been nominated in their hundreds for this year’s awards

Professional Pensions
clock 23 April 2026 • 21 min read
Trustpilot