Are Your Employees Pension Aware?

While many of us like to imagine the sort of life we might have after work, unfortunately not enough of us are making adequate financial provision to pay for that lifestyle. Despite approximately a third of employees having joined a pension scheme under auto-enrolment by the end of July 20191, 42% of us are still not adequately saving for our retirement.2

All too often, employees don’t actively engage with their pension until they are nearing retirement. Moreover, upon reaching this point in their life, they are frequently presented with a myriad of options, some complex and some not at all advisable for their circumstances.

That’s why The Money Charity have developed our retirement workshop, expanding people’s concept of ‘managing their money’ beyond just the day-to-day, into considering the future and planning for the kind of later life they want to have. With Pensions Awareness Day coming up this Sunday 15th September, what better time to get this booked in for your employees?

Our interactive three-hour workshop will help your staff think about the life they would like after work and the money they may need to realise those ambitions. We’ll ask all participants the key questions. Do they feel informed about their pensions and confident they are providing for the retirement they want? Do they struggle with the ever-increasing range of jargon, terminology and options around pensions and retirement? And where should they even start with it all?

The session will aim to make sense of topics such as: auto-enrolment, pension consolidation, managing pension contributions, and budgeting to maximise their pension. As with all our workshops, it will be up-to-date, impartial and informative, there are no ‘right’ or ‘wrong’ answers but instead, we aim to build up participants’ confidence within the area, enabling them to understand and assess their options so they can make the best decisions for themselves and their families.

We want to help people develop the skills, knowledge, attitudes and behaviours which they need to see money as a positive force in their lives, as a ladder to achieving their goals and not a hurdle obstructing them.

We can tailor the workshop in line with an organisation’s pension scheme(s), as well as encouraging attendees to log on to their pension accounts (both state and workplace) during the session to assess their current situation. Using an online calculator tool, employees are presented with a range of retirement scenarios. The workshop also gives guidance and signposting for support and further financial advice.

It can be delivered either in one session or as a series to fit in with your working day and time availabilities, and is best suited to a group of around 12-15 people with all levels of financial understanding and confidence. It also suits any age group, or a range, as we believe it’s never too early, or too late, to start planning!  We will gladly work with you in advance of a workshop to get a clear understanding of the specific needs of your audience, so that we can tailor the workshops accordingly, including information about your own specific pension offer.

If you’d like to make a booking, find out more, or have any questions, please don’t hesitate to get in touch with us on hello@themoneycharity.org.uk or 0207 062 8933.

1The Pensions Regulator’s Compliance Report, quoted in The Money Charity Statistics (August 2019)

2Scottish Widows Retirement Report (2019)