Employees want and need better pensions education

As many as 59 per cent of employees would welcome better pension education in the workplace according to a survey from Alexander Forbes Financial Services.

The survey revealed that despite 43 per cent of employers stating that they provide workplace pension education, 75 per cent of employees claim never to have received any. Reflecting pensions’ role in corporate and social responsibility (CSR), 75 per cent see enabling their staff to retire with financial security as the single most important reason for providing a pension and 64 per cent state that it is part of their CSR policy. Jarrod Parker, technical manager at Alexander Forbes Financial Services says: “There is an urgent need for business and academia to work together to create systems to understand, measure and improve the return on investment in pensions.”