Just 18% of employers would consider removing group risk benefits from their reward package to help mitigate the costs of auto-enrolment, according to research by reinsurer Swiss Re.
Its Facing life’s responsibilities report, published in November, surveyed 1,000 UK staff and 500 employers.†
A fifth (20%) of the 18% that would consider removing group risk benefits felt strongly. Over one-third (39%) neither agreed nor disagreed with removing group risk benefits.
Ron Wheatcroft, technical manager at Swiss Re, said: “Auto-enrolment could have a positive impact in introducing people to the financial services benefits and encourage them to build good financial habits.”
Read more about the pension reforms and auto-enrolment