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43% would switch sector for bigger employer pension contributions

ended 16. June 2023

A new survey, conducted by investment comparison site Investing Reviews, has revealed that 43% of people would consider working in a different sector if it meant greater employer pension contributions. With this in mind, a couple of quick Qs.

  • Have you ever had a client purposefully move jobs to get greater employer pension contributions?
  • Have you ever had a client switch job sector altogether in order to get greater employer pension contributions?

3 responses from the Newspage community

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Editor
Wes Wilkes
CEO at IronMarket Wealth
This is really interesting and much higher than I would expect. It would be interesting to see the sector and seniority breakdown of the responses as the assumption would be that sectors such as accountancy, financial services etc may well value pension provision more as well the fact that a move to that sector could influence the number.
A pleasant surprise that pension contributions are a significant enough benefit to divert a career path.
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Daniel Wiltshire
Actuary & IFA at Wiltshire Wealth
As enthusiastic as I am about the survey's findings, I find it hard to believe. Of course, we'd all like a bigger pension - but employer contributions are just part of a broader package including salary and other benefits. Essentially, pensions can be thought of as deferred pay. Balancing the needs of today versus saving for retirement is something we all have to manage - the right mix will vary for each of us but there is normally a trade-off.
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Joshua Gerstler
Chartered Financial Planner at The Orchard Practice
"We would normally encourage those we look after to try and contribute as much as possible into their pension. However, there is more to life than money. It is just as important, if not more important, to enjoy your job; to be in a positive work environment and to have a good relationship with your manager. Whilst we want to maximise our clients pensions, we also want to maximise their lives too."