Employers worried by retirement issues

ALMOST two-thirds of employers are concerned that their staff may be unable to afford to retire when the time comes.

Despite this more than a third said it is not company policy to allow employees work beyond normal retirement age, according to PricewaterhouseCooper’s 2011 pension survey.

It also found that two-in-five respondents have implemented reduced pension benefits while just over a quarter have sought increased employee contributions to help manage the deficit.