Rolls-Royce has implemented a financial education and employee engagement strategy to engage employees with saving for retirement, and switched pension scheme providers.
The strategy, which includes financial education presentations and access to an online platform, is designed to help employees take control of their finances.
The aerospace power systems manufacturer introduced the strategy alongside its implementation of nine new pension schemes, provided by Friends Life, part of the Aviva Group. Some 12,500 Rolls-Royce employees were moved to the nine different defined contribution (DC) contract and trust-based schemes when these were introduced in January 2016.
Joel Griffin, head of pensions at Rolls-Royce, said: “Ensuring that our employees are given the best opportunity to save for a comfortable retirement is very important to Rolls-Royce.
“We are excited to be addressing the need for financial information and education, ease of access, with choice and control over savings.”