“The decision an individual makes at retirement is increasingly turning into the biggest decision of their lives. With so many different financial options available at retirement, it is now more important than ever that they possess the right knowledge to make the right decisions. Increasingly employers are using specialist workplace financial education providers to help employees plan to build up retirement savings and also to help them make the right financial decisions at retirement. This is often supported by advice. A survey by WEALTH at work showed this growing trend. For example, 84% of those companies surveyed, provide financial education and/ or advice as a degree of support at retirement with 34% providing this support five years or more from their anticipated retirement date. 80% of companies surveyed agreed they need to take action to ensure employees are aware of the need to save which increases to 100% of the FTSE 100.”
Please see The Independent to read the article in full.
