Employees face the very real risk of having to work longer than desired or decreasing their standards of living should they not be as retirement ready financially as expected. Left to their own devices, employees are perceived to be financially ill-prepared for retirement.
Due to potential repurcussions and challenges this might pose, organisations have grown increasingly concerned over their employees not having enough money to meet their retirement needs. In fact, according to Aon’s 2017 Hot Topics in Retirement and Financial Well-being Report, 60% of employers feel that the importance of financial well-being has increased in their organisation over the last 24 months.
Organisations are now exploring and offering retirement benefits to support employees in becoming retirement-ready. This is especially so for employee groups who are unable to access the local retirement funding, and those representing the key talent of the organisation.
Our market-leading research suggests that many organisations struggle to quantify or articulate the value of their employee benefit.
For organisations offering retirement benefits, the key objective is to enhance the offering to their Singapore-based employees and achieve better alignment with the organisation’s objectives.
So whether you're seeking to implement a new retirement benefit or review an existing retirement scheme, Aon can help your organisation optimise the benefits you offer. We partner with you to ensure your retirement benefits are relevant to your employees, and well-communicated so they value the benefits. Ultimately, this will differentiate your total rewards package and increase the engagement of your employees.