EXCLUSIVE: Almost all (91%) HR and benefits professionals are members of a pension scheme provided by their employer, according to research by Employee Benefits .
The Employee Benefits Salary survey 2014 , which questioned 361 people with responsibility for managing benefits and reward in UK organisations, found that three-quarters (75%) of respondents are active members of a defined contribution (DC) scheme , while just over a quarter (27%) are active members of a defined benefit (DB) plan .
Among the DB pension members, 73% belong to a final salary scheme, while 15% are in a career-average scheme and 5% are in a hybrid scheme.
A remarkable 10% of respondents do not know what type of DB pension scheme they are in, which is worrying given that pension schemes fall under HR and benefits professionals’ remits.
Are you a member of a pension scheme provided by your employer?
Yes 91%
No 9%
Source: Those responsible for reward and benefits for staff in their own organisation (293)
Are you an active member of a defined benefit pension scheme?
No 73%
Yes 27%
Source: Those responsible for reward and benefits for staff in their own organisation who belong to a workplace pension scheme (266)
Are you an active member of a defined contribution pension scheme?
Yes 75%
No 26%
Source: Those responsible for reward and benefits for staff in their own organisation who belong to a workplace pension scheme (266)
Which type of defined contribution pension scheme do you belong to?
Group personal pension plan 59%
Trust-based money purchase plan 18%
Stakeholder pension 13%
Group self-investment personal pension 5%
Hybrid scheme 1%
Do not know 5%
Source: Those responsible for reward and benefits for staff in their own organisation who belong to a defined contribution pension scheme (197)