Employers seeking to reduce costs should consider explicitly targeting employee benefits in a bid to mitigate the unintended consequences of pay cuts on pensions, a HSBC Actuaries and Consultants report says.
The consultancy firm said the consequences of a pay freeze or pay cuts on benefits could include a reduction in pension contributions where these are linked to salary and a reduction in final pensi...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
