- Helping members of occupational pension schemes to better understand their benefits.

21st May 2019
:: Trustee | The importance of financial education | Pension Education works!

Pension education works!
Without a shadow of doubt, pension education works - for your scheme members, and for you.
In 2006, financial education charity, Life Academy*, began a series of one-day workshops, designed to motivate individuals to make decisions about their retirement planning.
Data was collected from participants at various stages. At the end of the workshop there was a 140% increase in intention to take action. Just three months later, the final evaluation revealed extraordinary results:
45% had sought financial planning advice
45% had increased their savings / investments for retirement
25% of those eligible had increased their contributions to their pension
77% had looked at their occupational / personal pension fund statement and forecast
59% had obtained a forecast of their state pension
27% had changed their intentions about retirement (with the majority intending to work longer)
Pension education in the workplace is high on the list of priorities in the Government’s pension reforms.
YOU can provide pension education for your scheme members. means you can provide a ready-made pension education service to your scheme members.
Pension education actively works to increase your members' knowledge and understanding of their retirement planning.
* Read the full article written by Stuart Royston of Life Academy

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