EXCLUSIVE: Two-fifths (42%) of organisations offer cash as an alternative to pension contributions for those employees that reach their lifetime or annual allowance limits, according to research by Employee Benefits and Barnett Waddingham.
The Employee Benefits/Barnett Waddingham pensions research 2018, published in December 2018, gathered 246 responses. It found that the introduction of annual or lifetime allowance limits in April 2016 has led to an increasing number of employers offering cash as an alternative to the extent that, with 42% of the response, this has outpaced last year’s top answer, which was not offering anything. Providing no alternative still far outstrips the remaining options, though, at 37%, a drop of only 2% since last year.
Download the full Employee Benefits/Barnett Waddingham pensions research 2018 report
