Newspaper article Evening Gazette (Middlesbrough, England)

Perks Being Put before Pensions

Newspaper article Evening Gazette (Middlesbrough, England)

Perks Being Put before Pensions

Article excerpt

TEES Valley employers are shunning pension provision for staff in favour of other incentives, such as healthcare schemes and gym memberships.

According to an nebusiness online poll, only 47% said they were planning to maintain or increase pension contributions for employees this year - at a time when poorly performing pension funds have prompted the Government to introduce the new Pensions Bill to encourage more people to save for their retirement.

Chey Garland, who runs Teesside-based Garlands Call Centres, prefers to offer cash incentives and free weekend breaks for staff.

She said: "We don't run a pension scheme for our employees, many of whom are under 35.

Many young people live for the here and now and have responded massively to different kinds of incentives."

Joanne Fryett, head of member relations at the North East Chamber of Commerce (NECC), said many employers were motivating staff with medical care schemes, childcare vouchers and cut-price gym memberships. …

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