Employees seek alternatives to pensions

<p>More than a third of UK workers want the option of saving into a non-pensions savings account, according to a new report by Towers Perrin.</p> <p>The study reveals that younger workers are most keen for the choice, with more than half (51%) of under 25s preferring the option of saving into something other than an automatic pensions scheme. This compares with 42% of employees aged 25-34.</p> <p>Results also show that more than a quarter of defined benefit scheme members would prefer a non-pension option.</p> <p>"When it comes to saving for retirement, organisations need to give their employees what they want a choice which includes pensions, but not as the only savings option, says Mark Duke, principal consultant at Towers Perrin. Employees face a wide range of financial pressures so why not explain the different savings vehicles, including pensions, and let them decide?"</p> <p>The survey asked 2,199 workers in private sector companies with at least 1,000 employees.</p>