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The benefits of pre retirement courses

Making Retirement Simple

As employers take note of financial wellbeing as a whole, it’s only natural to see an increase in retirement seminars offered to employees as they draw closer to the end of their working careers. These events are now seen by many companies as a key employee benefit, helping to make a smoother transition into retirement for you and your employees. Planning for retirement can be daunting so these seminars offer a jargon busting session to make employees aware of their options and dealing with difficulties they may face.
 
Retirement is one of the most significant changes a person will face in their lifetime and yet a survey conducted by the Scottish Widows 2019 Retirement Report* showed that 49% feel they are not preparing for their retirement. Furthermore, 38% do not know how much they are saving.
 
It is clear to see that even though this is a key stage for a majority of people, it’s still an area that many of us are ill prepared for and ill informed about. This shows the potential impact on employees an employer can make, really making a difference to their employees’ financial wellbeing through the employee benefits they offer.

The Benefits of Offering Pre Retirement Seminars & Courses

Offering employees access to pre-retirement workshops as part of a financial wellbeing programme comes with a range of benefits from helping with stress to improving productivity. Below are a few ways that these courses can help you employees:

Productivity

The Chartered Institute of Personnel and Development in 2017 found that 1 in 4 employees agree that financial worries impact their productivity at work.

Stress

24% say poor financial wellbeing is a significant cause of employee stress as found by CIPD Health and Wellbeing at Work survey 2019** .

Valued

By offering pre-retirement planning along with other employee benefits, employees’ views on their organisation change and they can feel more valued and supported not just in work but in their personal life. Company appeal can increase along with a better employee retention rate.
You can read our article on the benefits of implementing a financial wellbeing programme to find out more.

Expanding the Financial Wellbeing Offer

Offering your employees pre-retirement seminars and courses certainly provides employees the knowledge to help them make more confident choices about their retirement but it’s also possible to provide financial wellbeing support to employees before they reach this stage.
 
A report by Step Change Debt Charity in 2017 found that 14.5 million people have nothing saved for a rainy day. A dangerous situation to be in as one unforeseen circumstance can lead to them being in significant debt.
 
It can also be said that by making changes early in someone’s career can have a dramatic impact on their retirement. As an employer promoting good financial practices throughout an employee’s working career will provide your workforce with the necessary knowledge to improve their financial wellbeing over their lifetime.

Summary

Offering your employees access to pre-retirement courses is a useful and engaging employee benefit that help give them the confidence to make decisions about their retirement planning. Although, it is important to consider the wider picture and support employees at all stages of their working career not just the lead up to retirement.
 
At Planned Future, we offer a range of pre-retirement courses and webinars to fit in around your organisation. To find out more, simply contact us using the below form.

Would like to learn more?

Planned Future are able to hold a range of Pre-Retirement workshops for organisations throughout the United Kingdom. To learn more and have a free agenda prepared, simply complete the form on the right or follow the below link to find out more about our retirement seminars & courses.