By Jonathan Watts-Lay, Director at WEALTH at work.
25th March 2019
By Jonathan Watts-Lay, Director at WEALTH at work.
In the new world of freedom and choice in pensions, one of the most fundamental elements of employee financial wellbeing is retirement preparation. As many employees will turn to their workplace for support at this stage of their life, we have listed 5 ways employers can help employees who are facing retirement.
The key thing to remember is that employees really need to understand their options before making any decisions at-retirement. This includes understanding the generic advantages and disadvantages of these, as well as considering any associated risks such as tax inefficiency, longevity, losing money to scams and ultimately running out of income sooner than expected.
Many workplaces now offer support to their employees in terms of financial education, guidance and regulated advice, so that employees are informed at-retirement and can make better choices which will lead to better outcomes for all.
Further coverage can be found in Employee Benefits.
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