Pension schemes, both company pensions and personal pensions, are still regarded as the best savings option and employee benefit by UK workers, according to the National Association of Pension Funds (NAPF).
With government tax relief upping your pensions contributions by 20% on day one, pensions are recognised by workers as being far ahead of other forms of saving.
In a new survey, pensions came out as top savings option with 44% of respondents, far ahead of property (18%) and well ahead of any other form of saving.
Over three quarters of workers (77%) said they would regard a workplace or occupational pension as a significant plus point when looking at any prospective employer.
Besides salary, a company pension also came out on top as the leading employee benefit, getting the vote of 38% of respondents. A bonus (19%) and flexible working (13%) were the second and third preferred options.
While the majority of workers will make no changes to their level of company pension contributions in the next year, 17% said they would increase them, compared with only 8% who will cut their monthly pension contributions.
Workers were concerned about their retirement planning following the recent economic downturn, however. Only 34% of people said they believed their pension will give them enough money in retirement, and 27% said they would be more confident in pension saving, if it came with a guarantee against losing their savings.
