More than four out of five employees would welcome advice on pensions in the workplace, according to research by Metlife Assurance.
The pensions risk transfer provider’s nationwide survey showed that, when given the option of receiving pensions advice from either their employer, an independent financial advisor (Ifa) or a government-sponsored approach, Ifas were the preferred choice, with 55% of employees opting for it.
Only 17% viewed their employer as the preferred source of advice, with an even smaller proportion (9%) selecting advice from the government. The remaining 19% indicated no interest in receiving advice in the workplace.
The research also showed that more than two-fifths of adults do not save into any pension scheme, with 34% saving into an employer scheme and 16% into a private pension. Around 7% save into both.
Emma Watkins, director of business development at MetLife Assurance, said: “This research clearly highlights that employees want help to avoid future retirement income issues.
“Individuals require simple and clear information about their pension provision to determine what this means for their retirement plans.
“However, it appears that the most common sources of additional information, the employer and the government, are not viewed as the most favourable.
“While many employers provide pension communication and education, there appears to be demand for access to an independent financial adviser when key decisions need to be taken by their workforce.”
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