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Pension Changes survey 2017.

26th November 2018

WEALTH at work recently conducted a survey to investigate what’s changed in the workplace since the introduction of the pension changes. Its aim was to understand the attitudes and opinions of a range of UK companies in recognising the need to support their employees as they approach and reach retirement.

Please click below to see our survey results.

Pension changes survey results 2017 (1647 downloads)

Key findings include:

  • Only 10% of employers believe their employees are saving enough for their retirement
  • 39% of employers confirmed that if employees do not select a glide path, the default investment option will be targeted to an annuity
  • Only 20% of employers provide a full retirement income service for employees at-retirement
  • Almost half (48%) of employers believe that their employees are not aware of the various retirement income options available to them at-retirement
  • More than half (55%) of employers either provide no support or information only for employees at-retirement

In total, the research received 108 responses which were completed online and via paper over 4 months from August to November 2016. The survey targeted key HR, Rewards & Benefits and Pension professionals. 11% of respondents were from the FTSE 350, 36% were from large companies with 500 employees and more, 6% were from SMEs and 47% of respondents chose to remain anonymous.

For more information, please contact us.

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