With defined benefit pensions on the decline and a greater focus on defined contribution (DC) schemes, employers have an increasingly important role in ensuring their employees save enough for retirement.
Two categories at the Employee Benefits Awards 2014 highlight the great work UK employers are doing in this regard.
‘Best DC pension default investments’, a category introduced in 2013, recognises an employer that makes a concerted effort to offer an appropriate, effective default investment strategy for its DC pension scheme. The judges will be looking for well-thought-through strategy and objectives, innovation and measurable results.
‘Best financial education strategy’, a new category for 2014, recognises an employer that has taken a proactive approach to its workforce’s financial needs and has supported staff to make financial, retirement or investment-related benefits decisions.
Entrants may have brought in financial advisers for one-to-one meetings, run financial seminars or workshops, provided pre-retirement education or offered workplace savings outside the pension scheme.
The annual awards, which are open for entries until Wednesday 18 December, recognise employers that have introduced benefits and reward strategies that demonstrate outside-the-box thinking and provide tangible, quantifiable results.
With 23 categories to enter, there is certain to be one that will allow you to flaunt your organisation’s accomplishments.