Cash might replace pension, says HR consultant

A survey by Towers Perrin suggests 24% of all companies say they may introduce a cash alternative to pension arrangements as an option for their workers. Some 14% also say they are considering, or would consider, making this a company-wide policy. Cash in hand as an alternative to retirement arrangements therefore looks set to become more popular over the next couple of years, the Towers Perrin survey says. “Should this policy achieve momentum in the UK it would place an even greater responsibility for retirement income provision on the individual,” it says. Towers Perrin believ...