Pensions still top as staff see more value in benefits

Pensions are still the benefit most valued by employees, followed by income protection. Research by insurer Canada Life shows income protection has leapfrogged holiday allowance into second place on the list of most popular perks, with life assurance and basic health insurance completing the top five.

Redundancy cover, which was added to the list of options for the 2009 survey, came seventh, while the least valued benefit was advice on childcare.

Over the past year, benefits in general have become more valuable, with 52% of staff seeing them as important, compared with 40% last year.

More than two-thirds of staff regard benefits as important when deciding whether to accept a job. A further 27% do not feel strongly about this.

There are also differences between the sexes. More than two-thirds (68%) of women receive no benefits, compared with 29% of men.

Paul Avis, sales and marketing director at Canada Life, said: “In periods of recession, people want to protect what they already have.”

More news stories