Overview
Providing a workplace pension scheme is a key part of a benefits package and a requirement under auto-enrolment regulations. However, we can also provide valuable support to our Workplace Investing clients, so they can add value for their employees with retirement planning and making the most of retirement savings.
Our Planning for Retirement series can help show clients how they can support their employees when they are planning for or moving into retirement.
We explore some ways for employers to support their employees as they plan ahead, so they can look forward with confidence. We use the Retirement Living Standards, developed by the Pension and Lifetime Savings Association, which set out income requirements for a ‘minimum’, ‘moderate’ and ‘comfortable’ retirement. In conjunction with our retirement calculator, this guide can share how employers can support employees at work, but also better prepare them for their life after work.
Retirement has undergone a revolution during the 21st Century. There is no longer a default retirement age and employees can request flexible working. These changes have led to a more fluid, progressive concept of retirement.
In ‘The changing face of retirement’ we consider the implications of this seminal change and what it means in practice for employers and their employees, as people transition gradually towards their life after work.
It is important to consider the expenditure requirements in retirement and how needs may change. Being prepared and aware can help in retirement.
In 'Helping your employees navigate retirement', we consider how to manage income and expenditure during retirement, as well as health and tax considerations.