Survey: Focus on retirement income matters

WEALTH at work conducted a survey among employers to investigate what workplace support is available to help employees understand how to make the most of their finances throughout their career, in order to optimise income at-retirement.

Key findings:

• 80 per cent of employers believe their employees are not saving enough for retirement.
• A third of employers confirmed that if employees do not select an investment glide path, the default investment option will be targeted towards annuity purchase.
• 61 per cent of employers believe that employees are unaware of the risks they face when accessing their retirement savings.
• 71 per cent of employers do not provide a full retirement income service for employees at-retirement.

The survey targeted key HR, rewards, benefits and pension professionals. In total, the research received 85 responses which were completed online and via paper over six months from June to December 2017. All figures have been rounded to the nearest whole number.

Supplied by REBA Associate Member, WEALTH at work

WEALTH at work is a leading financial wellbeing and retirement specialist - helping those in the workplace to improve their financial future.

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