2nd December 2014
WEALTH at work recently conducted a survey to help identify the approaches and opinions of a range of companies to see how, and if, they are recognising the growing need to support employees at retirement. The survey targeted key HR, Reward & Benefits and Pension professionals. In total, the research received 105 responses from the following company types:
Key findings include:
It is evident that many employees are not getting the support they need at retirement and as a result are often making poor decisions which may impact their income throughout retirement. This has been highlighted in the recent budget where far more flexibility is being introduced from April 2015 to allow individuals to take income from their defined contribution pension savings in a way they choose whilst at the same time making ‘guidance’ a compulsory offering at the point of retirement.
WEALTH at work already work with many organisations to to help employees understand income options at retirement, if you would like to learn more about this please contact us.
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Further coverage:
Employee Benefits
Pensions expert
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