The survey, which was carried out in September 2015 among readers of Employee Benefits and users of www.employeebenefits.co.uk, received 259 responses.
Number of UK-based employees in respondents’ organisations
Fewer than 100 19%
100-500 23%
501-1,000 12%
1,001-5000 24%
5,001-10,000 9%
More than 10,000 13%
Source: All respondents (259)
Organisation type
Privately-owned 60%
Publicly quoted 27%
Public sector 6%
Voluntary sector 6%
Source: All respondents (259)
Key findings
68% of respondents offer a group personal pension as their primary pension scheme
45% offer a trust-based defined contribution scheme as their primary scheme
52% of respondents that offer a defined contribution scheme have communicated the pension reforms to staff
37% will have changed or will be changing their default or lifestyle fund in response to the reforms
26% of respondents believe the reductions in the lifetime and annual allowances will affect a small number of staff
39% of respondents will offer increased reward (for example, remuneration or pay) for staff impacted by the lifetime or annual allowance limit changes
51% of respondents say that staff have only shown a partial understanding of the pension changes
32% of respondents offer financial education to all staff
32% of respondents are currently reviewing or putting plans in place to include financial wellbeing within their overall wellbeing strategy
