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Workers willing to trade pay for benefits

Published
  • February 27 2012, 10:00am EST

An increasing number of U.S. workers say they are willing to trade some of their pay for more secure and generous retirement and health care benefits, according to a survey released today by Towers Watson. In addition, nearly half of workers polled say they are worried about reductions in their retirement benefits over the next two years.

“Since the economic crisis, employees have been paying much closer attention to their retirement readiness, and many are willing to look at new ways to balance their mix of pay and benefits,” says Kevin Wagner, a senior retirement consultant at Towers Watson. “This may reflect their firsthand experience with financial market volatility, continuing worries about the economy and fears of future cutbacks to benefits. As a result, retirement security has become significantly more important to them.

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