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Latest NewsPay & benefitsPensions

Catering staff face poverty in retirement

by Mike Berry 11 Aug 2005
by Mike Berry 11 Aug 2005

Staff working in the hotel, catering or restaurant sector face pension poverty compared with their peers in other industries, according to research.

A survey of 1,700 workers, by insurance firm Axa, reveals that 40% of hospitality staff do not get offered a company pension scheme at all, in contrast with less than a third (32%) losing out in banking, finance and insurance.

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Moreover, hospitality staff lose out again by having to wait to join their respective pension schemes, with just 32% allowed to join as soon as they start their job.

The majority of public sector workers have no such hardship, with more than 70% able to join a pension scheme immediately.

Mike Berry

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