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Wednesday, 14 September 2011

Employees 'are unprepared for retirement'

Many of the nation's workers are not preparing well enough for life after work and as such are getting the 'retirement jitters', a new report has found.

Research carried out by Mercer suggests that only 38 per cent of UK workers feel like they are doing enough financially to prepare for retirement, with the 21-34 age bracket the least organised when it comes to thinking about their later years.

The company's What's Working survey, which polled over 2,400 workers across 1,000 UK organisations, revealed that 31 per cent of staff feel that their organisation is not doing enough to help them prepare for retirement.

As a result, many staff are considering switching organisations to a company with better long-term benefits.

Jenny Condron, a partner at Mercer, said it is interesting that many staff are happy with their role but are unsure as to whether it will stand them in good stead in the long term.

"For employers, this lack of confidence should be addressed. Companies should communicate the excellent work that they do to support their staff in retirement," she added.

It follows the publication of a recent report by the Trades Union Congress, which showed that the proportion of people aged between 50 and 64 who are in employment currently stands at 64.9 per cent in the UK, up from 56.5 per cent in 1992.

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Posted by Nikki BarristerADNFCR-1617-ID-800729102-ADNFCR

Source: The Sales Director News

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