Something for nothing?: Employees’ views of occupational pension schemes

Against a background of partial, and often contradictory, information, this article explores the attitudes of over 1,000 employees in one firm in the financial services sector towards various issues related to retirement and pensions. The respondents regarded the existence of occupational pension schemes as having a major influence on their job searches. Among the various reasons for being members of the employer’s scheme, the principal ones were associated with the perceived qualities of the scheme itself, the zero charge for employees, and opportunities for planning for the future. Levels of ignorance about certain features of the scheme were discernible, and differentiated patterns of response among groupings of employees suggested that employees bring to pensions matters diverse expectations and awareness. The article concludes with a discussion of the implications of these findings for employee recruitment, motivation and retention.