If the focus is on delivering better outcomes, is simply boosting pension coverage enough? Being in a pension plan does not automatically deliver an idyllic lifestyle in retirement. Factors like inertia and low financial literacy mean many members don’t understand how much they are saving, or the outcome that it’s likely to deliver when the time comes. With a no-frills auto-enrolment (AE) model on the horizon, and master trusts now setting a high bar when it comes to members supports, we look at the hows and whys of connecting and educating members about pensions and their wider finances.
How can employers improve how they manage and develop people as they age?
How can employers deal with factors like inertia and low financial literacy?
What methods can be used to connect and educate members about pensions and their wider finances?
What other solutions are there are available to business both now and in the future?
