EXCLUSIVE: 35% believe Brexit will impact pensions

Referendum

EXCLUSIVE: More than a third (35%) of employer respondents believe that Brexit will impact pensions, according to research by Employee Benefits and Close Brothers.

The Employee Benefits/Close Brothers Pensions research 2016, which surveyed 250 employer respondents, found that while 14% of respondents do not believe that the outcome of the June 2016 referendum on the UK’s membership of the European Union (EU) will have an impact on pensions, more than half of respondents remain unsure; 7% do not know if Brexit will affect pensions, and 45% feel it is too early to tell whether it will have an impact.

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Even among those respondents who believe that Brexit will impact pensions, 75% think it is too early to tell how it will affect these.

Around a quarter (26%) of respondents that think exiting the EU will affect pensions agree that Brexit will motivate staff to opt out of their workplace pension scheme, and just over a fifth (21%) agree that that it will motivate employees to lower their pension scheme contributions. More than four in 10 (43%) respondents think that Brexit will increase employee engagement with retirement planning, and 36% do not believe that it will increase engagement.

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