Helping employees with retirement planning.

19th January 2016

Jonathan Watts-Lay, Director, WEALTH at work, a leading provider of financial education in the workplace supported by guidance and advice, comments in Reward on top tips for employees to help them with their retirement planning.

One of the tips discussed is for employees to examine their investment options and defaults. Watts-Lay asks; “Do your employees understand what they’re invested in when they are leading up to retirement? When employees are at the point of retirement, you have to make sure they understand what their options are and how they can access them. What are you, as the employer, going to offer?”

The article goes on to discuss the best way for employers to engage employees with their pensions, to which Watts-Lay answers; “The best way to get people engaged with their pension is to make it as meaningful and relevant as possible to different cohorts, so it is key to segment the workforce.”

Jonathan also comments on what else an employee needs to think about when making retirement decisions; “When you understand your options, you must then ask if you are comfortable with making a decision, or if you feel that you need to go to a regulated adviser for help.”

To read the full article in Reward, please click here.