There appears to be a distinct lack of understanding around retirement income needs.
If I asked you or your employees how much they should be saving into your pension, what would your answer be?
The reality is that while it is in an employer’s best interest to support employees in understanding what they need to do to achieve a secure retirement income, a lack of understanding in this area prevails.
Need for financial education
“Not knowing how much they should be saving for retirement, could lead many not having enough savings at a time when it’s too late to do anything about it,” said Richard Cullen, Chairman at Cullen Wealth.
“The best way to do this is through the provision of financial education followed by advice, ideally provided via the workplace.”
How can pension education help?
Cullen Wealth has helped numerous firms with expert advice tailored to their needs. IAE, a manufacturer of livestock handling equipment in the Midlands, with just under 500 employees has seen its pension provision transformed.
See our case study http://bit.ly/2aH7EgH
Now employees have pensions structured to match their attitude to risk know where their pension fund is invested and why, who their pensions will pass to upon death and how to take advantage of tax breaks.
For advice about how we can help your employees, please contact Richard Cullen on 0161 975 6700 or email firstname.lastname@example.org.