Pension Awareness Day – are you saving enough for retirement?
Today is Pension Awareness Day – a campaign that takes place annually on 15th September. The campaign aims to promote the importance of pensions and saving for the future, and alert the nation that it is not saving enough for retirement.
The UK is facing a challenge
As a nation we are living for longer than ever, with many people’s retirement lasting for 30 years or more. Yet, a recent government report highlighted that as many as 12 million people are simply not saving enough for their future. The Pension Awareness Day initiative was created in response to this concern.
The increasing ageing population, coupled with the uncertainty over the changes to the state pension age, means it is clear there is still a long way to go in equipping people with the tools and information they need to help them save more for retirement.
Most of us would agree that pensions might not be the most entertaining topic one can talk about, so Pension Awareness Day also aims to encourage the use of more simple language in pension messaging. Our employee benefits division, Secondsight, shares their ideas around engaging employees with their pension in their latest blog here.