Thomson Reuters recognises there is a need to help employees plan for retirement and has partnered with WEALTH at work to deliver financial education programmes to its workforce.
The programmes have included educating employees on their glide path options to help them make the right decisions as they approach retirement. More recently Thomson Reuters decided that it wanted to offer financial education to help employees understand its new in-scheme drawdown option, so WEALTH at work designed a financial education programme to help employees understand the key features of the new drawdown option.
As a method of generating engagement around the financial education, WEALTH at work devised a campaign which targeted employees as they turned 50 years old by sending them an electronic birthday card which encouraged participants to attend a pre-retirement seminar.
The financial education programmes are delivered in the format of face-to-face seminars and webinars. Attendees are then offered a follow-up clinic appointment to discuss their individual circumstances.
Matthew Webb, Head of EMEA & APAC Benefits at Thomson Reuters, comments: “We really wanted to drum up interest around the financial education programmes at a point where it’s crucial for employees to get support around their retirement income options. Therefore, with the help of WEALTH at work, we put a process in place whereby, as members reach age 50, they’re invited to a seminar that explains the options at-retirement.”
Jonathan Watts-Lay, Director at WEALTH at work, comments: “Financial education and guidance supported by advice is crucial in the lead-up to retirement given the enormity of the decisions that employees face at this stage of their lives. Thomson Reuters have recognised this and we are proud to be working with them and their employees to ensure better retirement outcomes.”
He continues: “Individuals now have a whole new world of choice when it comes to drawing income in retirement, which is why financial education is an important step in developing an employee’s knowledge to help them understand their personal financial situation and the options available. Employees should be supported by regulated advice to provide individual support and clear actions and recommendations to optimise their retirement income.”