Employers should do more to help their staff effectively plan for retirement, Scottish Widows says.
The pension provider has joined forces with the Institute of Financial Planning to launch the 2009 Financial Planning Week which is focussed on pushing employers to offer better guidance on planning for retirement within the workplace
Scottish Widows said figures from its fifth annual pensions report revealed more than three quarters of people would like some kind of guidance from their employer when it comes to pensions.
The report also showed 33% of people felt that where employers provide access to a pension scheme, they should also provide full financial advice.
However, at present just 16% of people would go to their employer if they wanted to find out more information about pensions.
This year's Financial Planning Week runs from today until September 13. The national consumer awareness campaign is focused on pushing employers to offer better guidance on planning for retirement within the workplace.
As part of its commitment to the campaign Scottish Widows will be holding free financial workplace seminars for AECOM employees on September 8.
The firm is a global provider of professional, technical and management support services in areas such as transportation, building engineering, water, environment and energy.
Scottish Widows corporate pensions market director John Taylor said: "Our research shows that a huge number of people would like the opportunity to receive financial advice in their workplace.
"By providing free financial planning seminars we hope to advise on how employees should be managing their finances better so that they can plan for their futures."
He added: "Financial planning in the workplace is a great way to alert everyone to the importance of saving for the future, and raises awareness of the need to prepare adequately for retirement. We would hope that once there is a better level of education amongst employees from these practical seminars, there will be a greater understanding of the need to plan for retirement."
AECOM director and head of pensions Paul Williams said: "In the current climate, the need to raise the level of financial education in the workforce has never been greater."
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