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Workplace pensions now do far more than meet regulatory requirements. They help you attract people, keep them and support their long-term financial health. Research by Royal London shows that employers who invest in strong schemes gain a clear advantage in a competitive labour market.
Many people still fall short on savings
Around 15 million working-age adults in the UK are not saving enough for retirement. Automatic enrolment has helped, but private pension incomes could still fall by up to 8 per cent by 2050. You can help close the gap by encouraging higher contributions and building financial education into your culture.
Legislation will shift again
The Pension Schemes Bill is set to introduce tougher value-for-money rules, simpler retirement options and the consolidation of small pots. These changes may create compliance pressure, but they also offer chances to streamline administration and improve outcomes for your employees.
Pensions rank high for employees
Pensions sit just behind salary as a top workplace benefit. Employer-matched contributions matter most, as they support employees’ plans for a more secure retirement. If you want to stand out as an employer of choice, put your pension offer at the centre of your benefits strategy.
Engagement makes the difference
Most employees check their pension at least once a year, but those who use advice or digital tools feel more confident about their future. Giving people simple, accessible information and guidance lifts engagement and strengthens financial wellbeing.
In an era of rising costs and wage pressure, it can be easy to treat pensions as an expense. In reality, financial education and matched contributions can build loyalty, improve productivity and deliver long-term value for your organisation. It’s a practical way to support your people and strengthen your business.
Read Royal London’s Workplace pensions: How much is enough? report in full.