Making pensions valuable
Retirement | Global
It’s a problem facing plan sponsors around the world. With the advent of auto enrolment programs, concern over low occupational pension coverage, funding and solvency issues plaguing traditional plans, and a generally inadequate level of financial literacy among employees everywhere, HR and pension professionals are gearing up to deal with the challenge of making pensions more valuable to employees. Non-engagement can mean trillions of dollars being invested in unappreciated pension plans.
Buck’s Girish Menezes headed up a research study whose findings show the top 5 reasons why employees don’t save for retirement, and in a white paper (”How to overcome employee apathy over retirement savings“) shows how employers can add significantly to their employees’ ability to save for retirement. That suddenly makes the retirement program far more valuable in the minds of the employees, which helps to build employee engagement and makes the program powerfully effective.
