EXCLUSIVE: 74% offer salary sacrifice pension arrangements

Folders with the label Retirement Plan and Pension

EXCLUSIVE: Almost three-quarters (74%) of employer respondents enable staff to contribute into their defined contribution (DC) pension scheme via a salary sacrifice arrangement, according to research by Employee Benefits and Xerox HR Services.

The Benefits research 2016, which surveyed 338 employer respondents, also found that two-thirds (66%) of respondents offer a group personal pension (GPP) plan as their primary scheme for auto-enrolment purposes, followed by an open defined benefit (DB) scheme (28%), and a stakeholder pension (20%).

Around a quarter (24%) run a DB scheme for accrued benefits, which is closed to future accrual, as their secondary pension scheme, and 20% have a DB scheme in place that is closed to new members but open to future accrual.

The type of pension