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Open Market Option Comparisons for Pension Income

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The Difference Between The Best And Worst Pension Incomes Can Be Very Surprising

Aegon Annuities Aviva Annuities Axa Annuities Canada Life Annuities Friends Life Annuities Hodge Annuities Just Retirement Annuities Legal and General Annuities LV Annuities
MGM Annuities Novia Annuities Old Mutual Annuities Partnership Annuities Phoenix Annuities Pru Annuities Royal London Annuities Scottish Widows Annuities Zurich Annuities annuities

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Aviva's first Working Lives report outlines the challenges of getting Britain's workers saving

2 May 2012. Many employers (70percent) are aware of pension reform changes but 68percent of employees have little or no knowledge of automatic enrolment yet. 43percent of employees currently without a pension said they would remain in a scheme once they were automatically enrolled – but opt outs could be significant.

Employees are most concerned (53percent) about how their pay compares to the cost of living, while employers worry most about keeping up with the competition (58percent). More than half (56percent) of employees agree pensions are the best way to save for retirement but 55percent of employees without one say they simply don’t have the cash.

Employers recognise their workers are critical to their business success, but over a third (39percent) are looking to motivate them without ‘unduly increasing pay’.

The first Savings Engagement in Employment (SEE) Index shows significant room for improving employers’ and employees’ levels of awareness, ownership and enthusiasm for workplace saving. The challenge of getting Britain’s workers saving for their retirement is highlighted in Aviva’s first Working Lives Report, which reveals the daily struggle faced by employers and employees as they seek to balance business priorities against personal financial needs.

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