British business owners continue to ‘treat pensions as a compliance exercise rather than a strategic part of their employee wellbeing and retention strategy’, warned experts at Penfold, the workplace pension provider.

But workplace pensions are one of the strongest, yet most overlooked, drivers of employee retention and morale across UK workplaces. A staggering nine in 10 employees say their workplace pension influences whether they stay with their employer or move to a new role, research from Penfold found.