The Pensions Management Institute (PMI) has launched a new education and guidance service for trustees of workplace pensions, aimed at helping them support members approaching retirement.
This service, called ‘RetirementMatters’, is supported by Wealth at work, a specialist provider of financial education in the workplace.
The guidance aims to help members understand how to make the most of their pensions and savings to make more informed decisions about their retirement.
The RetirementMatters programme will offer a range of options from classroom workshops, online seminars, 1:1 guidance and digital content. There is also an option to request a tailored programme.
PMI chief executive Gareth Tancred says: “Most employers and trustees recognise that for those members nearing retirement, it is important that they are well equipped to understand their retirement income options and how to mitigate any associated risks.
“The PMI are well aware of these issues and are pleased to be able to support trustees, schemes and employers through the provision of retirement-focused financial education and guidance service.”
Wealth at work, director Jonathan Watts-Lay adds: “Since freedom and choice, it has never been more important to provide support to those who are nearing retirement.
“We have been delivering financial education and guidance for many years and know what a difference it can make to savers as they discover how to get the most out of their pension and any other savings and investments.
“Our programme will help employees and scheme members understand their retirement income options and be aware of the risks involved whether that be the risk of being scammed or simply paying more tax in retirement than they need to. The aim of this service is to ensure all those approaching retirement make informed decisions.”
A free 60-minute introductory online seminar is available to employers and pension schemes at 10am on 13 August 2020. More information is available on the PMI website.