Survey: How is the tapered annual allowance impacting pensions?
Key findings:
- 90% of the FTSE 100 companies surveyed changed their policy on pension provision following the pensions tax changes in April 2016.
- 84% of companies now offer a cash alternative to pensions to employees with lifetime or annual allowance issues.
- Between 10% and 20% is the average percentages of basic salary offered where cash is an alternative to pension.
- More employees are being impacted by these changes, not just top executives.
These findings can help other organisations to benchmark their own pension options.
