The need to support employees to engage with their pensions and retirement savings has never been more important. Many workplaces now provide financial wellbeing programmes to help their employees engage with their pensions and understand the choices to be made at retirement.
Many employees face financial worries at one time or another during their lives, and concerns over retirement can be a big part of this. In fact, our research found that 32% of working adults worry about being unable to afford to retire when they want, and 41% know they are not saving enough for a comfortable retirement.
The Wealth at Work group (“the Group”) – a leading financial wellbeing and retirement specialist has acquired technology firm Death by Design Limited (“DBD Digital”), based in Alderley Edge, Cheshire.
According to WEALTH at work research, a substantial proportion of employees have significant financial worries.
Jonathan Watts-Lay, Director, WEALTH at work, a leading financial wellbeing and retirement specialist, comments; “Death in service benefit is generally paid as a tax free lump sum, calculated as a multiple of the employee’s salary.
Many people are aware that they should be paying off their debts, saving more, or spending less, but actually taking control of your finances and making decisions, can be daunting.
Pension pots and retirement savings are often the most money many people ever have access to, so it is important that those retiring in 2022 understand their options and make informed decisions.
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Health and wealth issues are the top retirement concerns, according to a new survey of workers approaching retirement (age 50+).