Retirement pensions preferences 'change with age'
Retirement pensions preferences are change with age, according to research published by Friends Provident.
Retirement pensions become increasingly attractive to employees as they get older, according to new research.Friends Provident, an annuity and pensions advice provider, conducted a survey which reveals that more than one-third of employees over the age of 50 would prefer an employer to pay pension contributions instead of receiving an annual bonus.
The survey also revealed that older people are more likely to turn down new jobs because of unattractive retirement pensions packages than younger people are.
Martin Palmer, head of corporate pensions marketing at Friends Provident, said: "In these challenging times we are urging employers to recognise what workers in the UK want and to look further down the line when reviewing the role attractive pensions offerings […] play in attracting and retaining their staff."
Recent research by Friends Provident revealed that the state pension falls short of the amount many Brits estimate they need in order to live comfortably in their old age.
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