The Platforum has published a workplace savings platform market update for employers.
The guide brings together the latest research and feedback from employers and adoptees of the platforms, as well as details of existing and new propositions.
With 237 employers using platforms, The Platforum estimates that there are now around 260,000 employees currently on workplace savings platforms.
Tina Harris (pictured), head of employer research at The Platforum, said: “Since our preview issue in 2011, we have continued to review workplace savings platforms, speaking to employers, advisers and providers. We wrote this update in response to requests from employers.
“With auto-enrolment dominating the agenda, wider workplace savings are not an immediate priority for many of the employers we spoke to (although a high proportion, 79%, are open to the idea).
“That’s not to say interest in workplace savings platforms has faded. We see some providers gaining real traction.
“The number of platforms has increased four-fold in 18 months. For some employers these platforms are simply a solution to issues around pensions and financial education, and a means of future proofing.”
Other employers remain committed to the concept of addressing their employees differing financial needs and extending their planning tools and savings options, Harris added.
