JML, the household product supplier, is actively encouraging employees to join its defined contribution (DC) pension scheme.
The company is also offering staff free pensions advice from Clifton Asset Management.
It is working to boost take up into the scheme, which offers 6% employer contributions and 4% employee contributions, rather than having to reduce or cut the scheme completely.
Ken Daly, group managing director at JML, said: “JML is not ‘most companies’ and our reasons for going against the grain makes long-term sense; we want to employ the best people and this is a great way of keeping their loyalty.
“Given the current state of the economy, most people are more financially aware now and have greater concerns about what is going to happen to them in the future.
“A benefit as significant as a good company pension scheme is becoming a rare thing indeed.”
Anthony Carty, director at Clifton Asset Management, added: “Following the collapse of one of its biggest clients, Woolworth’s, and funding issues common to most businesses during the recession, JML faced an uncertain 2009 and could easily have taken the decision there and then to kill off the pension scheme in order to save money.
“Instead, the company’s management backed themselves and their workforce to withstand the downturn and, against the odds, turned in an excellent year’s trading.
“Furthermore, unlike many employers now in the private sector, it is actively increasing availability of its employee pension scheme and we were delighted when it asked us to provide financial advice to its 300 staff to increase membership by showing how important it is for them to grasp this benefit.
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