Workplace pensions are considered so important more than six in ten people would take a lower paid job to get one.
That is according to a survey carried out by Populus for the National Association of Pensions (NAPF), which examined attitudes to workplace pensions and their future prospects.
NAPF chief executive Joanne Segars said: “This survey shows very clearly that workplace pensions are firmly planted in the minds of employees – the people who matter most.”
In the survey, respondents were asked how important they considered workplace pensions to be.
Three quarters of respondents aged 18 to 65 said it was important, with 53% saying it was very important and 22% saying it was quite important. In addition, a total of 24% said it was not important.
Respondents were also asked to consider a situation where there are two jobs on offer which are exactly the same in all respects apart from the package on offer – the first with a higher salary but no pension and the second paying a proportionately lower salary, but with a pension worth around £20,000 a year – respondents were asked which job they would choose.
The survey suggests 66% of people aged 18 to 85 would choose the lower paid job, believing it is worth paying more now to get a decent retirement income. A total of 32% said they wanted a higher income now and would sort out a pension later and would therefore choose the job with the higher salary.
The NAPF says both the Government and opposition are strongly in favour of its proposal for a Good Pension Quality Mark.
It says this is supported by the survey with an overwhelming 87% of people saying a quality mark would help them work out whether a pension which comes with a job is a good one.
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