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Pension News Pension Planning Advice And Guidance Wanted By 76percent Of Employees 18469859

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Pension planning advice and guidance wanted by 76% of employees

08 September 2009 / by Rebecca Sargent

More than three quarters of UK workers would like some level of retirement planning guidance in the workplace, recent research from Scottish Widows and the Institute of Financial Planning (IFP) has revealed.

For those whose workplace provides a pension scheme, 33 per cent believe they should also provide full pension advice, while 43 per cent said that some level of retirement planning guidance should be provided, even if a pension scheme is not.

The research comes during Financial Planning Week (September 7-13). Commenting, John Taylor, Market Director of Corporate Pensions at Scottish Widows said:

“Our research shows that a huge number of people would like the opportunity to receive financial advice in their workplace.

“Financial planning in the workplace is a great way to alert everyone to the importance of saving for the future, and raises awareness of the need to prepare adequately for retirement.”

Meanwhile, the study also found that just 16 per cent of employees go to their employer if they want to find out more information about pensions, while 55 per cent said they would be encouraged to start pension savings if they qualified to join a company pension scheme.

Paul Williams, director and head of pensions at AECOM Ltd adds: “In the current climate, the need to raise the level of financial education in the workforce has never been greater.”

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