Only 23% of employers believe their employees are aware of the various retirement income options that are available, according to research conducted by Wealth at Work.
The Rethink Retirement Survey 2011 also showed that 60% of respondents also believe there will be an increased requirement for specialist retirement advice.
Jonathan Watts-Lay, director, Wealth at Work, said: “It is now critical that firms offer financial education to their staff at retirement to ensure they understand the various retirement income options available.
“This should be supported by advice to ensure employees make the right decision for what is increasingly becoming the most critical financial decision during their life.”
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