2011 survey of pension trends amongst employers conducted by the Association of Consulting Actuaries (ACA) has revealed that employers are seeking to further reduce their pension costs.
Despite most of the companies believing that employers should share the investment, inflation and longevity risks, the ACA found that:
- Only 14% of all employers are expecting to increase their spend on pensions
- One third of larger employers are looking to decrease their spend on workplace pensions
- 73% of employers are likely to auto-enrol all employees into an existing pension scheme
- A mere 26% of employers say they have budgeted for the costs of auto-enrolment
The ACA’s full findings can be found in their interim report.