Employer Based Advice

Employer Based Advice.

Research from Scottish Widows found that a third of employees thought that employers should provide full financial advice if they provide a pension.

However, the firms report said that in just a sample of the full poll, only 17% would use their employer for financial advice if it was provided, compared with 25% that said they would go to an independent financial adviser.

The poll also showed that one in four people were unaware of how much to save into a pension for an adequate standard of living at retirement and whilst Scottish Widows recommended saving 12% of their income to have an adequate income at retirement, 38% felt that just 8% of income would provide an acceptable standard of living for retirement.

We have an article which gives some information on saving into a pension and how much to save to achieve a pension income target, see here: How Much to Save into a Pension.