WEALTH at work is a leading provider of education in the workplace, supported by guidance and advice, with an excellent reputation of delivering real results for its clients, ranging from large FTSE companies to SMEs.
We have a range of services that can help employees better understand their finances which can provide specific support at critical times such as at-retirement.
Our services include;
- Financial education
- Guidance (around workplace benefits and savings)
- Regulated advice
- Retirement income options service (ready made for the new pension world)
Pension changes survey results 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.
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.
Click here to see our survey results.
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To view more, please click here.
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Expert insight columns
Employees left vulnerable to making poor decisions which could lead to a reduced income at-retirement (February 2017)
Taking a wider view with pension transfers (November 2016)
Decumulate, decumulate (September 2016)
Understanding retirement income options - as easy as it seems? (August 2016)
A year older, a year wiser? (May 2016)
Survey results reveal employers have still not adapted to pension changes (February 2016)
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