The Caterer

Hospitality staff face pension poverty

09 August 2005
Hospitality staff face pension poverty

Staff working in the hotel, catering or restaurant sector face pension poverty compared with their peers in other industries, according to new research from insurance and asset management company AXA.

The survey found 40% of hospitality workers 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.

Moreover, the 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.

AXA's research was conducted over the phone in April 2004 with 1,700 respondents.

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