Employers do not see need to invest in retirement education

Almost three-quarters (72%) of respondents do not see the need to invest in retirement education for employees, according to research by Jelf Employee Benefits.

Its research, which questioned 124 employers, found that only 28% of respondents think that the removal of the default retirement age (DRA) will lead to an increased demand for later life workshops and education of mature staff.

Lee Coles, head of Jelf’s Money after Work, said: “Improving communications about this, sometimes taboo, subject means that employers can gauge the position of their staff, which is of real commercial benefit.

“Employees who lack confidence in what the future might bring will be less likely to open dialogue regarding their retirement plans. Knowing which individuals are planning to retire and when they intend to do so, means that an organisation can plan more accurately for the future.

“Any employer that wishes to make considered strategic decisions should attempt to anticipate the profile of its workforce. Not only does offering later life education aid this process, it is also positive evidence that the organisation is embracing anti-age discrimination regulation, as well as providing a valuable resource to employees.”