Pension Changes survey 2017.

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.pdf

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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