NAPF: Pensions still seen as most important benefit

Workplace pension schemes are considered the most important benefit an employer can offer and it is expected that their up-take will increase in the future, the National Association of Pension Funds (NAPF) has said.

The Personal Accounts system is expected to be launched in 2012 and the changes in workplace pensions that it will bring about are expected to make them even more popular, according to the organisation.

Mark Brooks, a spokesperson for the NAPF, said: “There is a growing realisation that to enjoy a good standard of living on retirement, there is a need to have an additional pension…it is no surprise [workplace pensions] are still seen as the most important benefit.”

He said that tax advantages and employer contributions are two factors that make work pensions attractive to employees.

A recent survey by NAPF found that almost 49 per cent of respondents said they would feel greater loyalty to their company if a workplace pension was offered.

Tags: Association, respondents, investment, Pension, employer contributions, important benefit."He, organisation