Workers ditching employee benefits for cash - Unum

Research from the provider found 38% of companies have witnessed a growing trend over the past two years for employees to sacrifice benefits,  such as income protection, life insurance or pension contributions, for a cash lump sum. Furthermore, almost one in five (18%) companies has witnessed a decrease in the amount employees are contributing into their pension schemes. Unum noted that these emergency short-term measures, whilst providing a quick cash boost, could spell more serious long-term financial problems for many workers who are sacrificing financial protection. The need to...