Crawford Employee Financial Guidance believes there are a variety of good reasons to implement Retirement Awareness Education:

1. Most companies are spending up to 15% of their payroll on providing a range of employee benefits, most of which are not understood or appreciated by the majority of employee until they reach their mid to late 50’s. Language can also be a barrier for large numbers of staff. It is vital for any company to maximise the return on this expenditure – it should mean a more dedicated and motivated staff compliment.
2. Trustees are now held accountable by the Financial Services Board for ensuring that all members of a pension or provident fund are in a position to make an informed decision with regard to their investment decisions and their options on withdrawal and retirement. This onerous requirement can only be met by effective education of all members.
3. Employees, if left to their own devices, often wake up far too late to make a meaningful difference to their financial situation at retirement. This tends to worry and depress older employees, diverting attention from work at a time when they should be at their most productive. Preventing and managing this is usually very motivating and saves considerable time in the Human Resource area counselling these staff members both prior to and at retirement.
4. Where Member investment choice exists and where employees are expected to make their own investment decisions we find most are either confused and opt for a default choice or make far too conservative investment choices. This can result in lower that expected investment returns and disappointing retirement values where retirees blame the company for not providing the necessary help.

Crawford Employee Financial Guidance can offer unbiased, independent education as we have no ties to any financial institution and have no conflict of interest –

we simply educate and have no need to sell anything!