The financial wellbeing department
Mark Futcher and Jonathan Watts-Lay, director at Wealth at Work offer their own compelling insights into the changing face of the retirement landscape in this interview with PMI TV.
"Financial wellbeing, absolutely right! It’s a buzzword that’s creeping up in the industry - you see your pension as your later life savings vehicle."
As they discuss the trend to move from an out-moded idea of retirement (the traditional pensions department), to a new culture of holistic financial wellbeing, Mark and Jonathan consider the impact of freedom and choice.
They examine the major changes that this has brought to bear on employers both in terms of the need to adapt to the evolving requirements of their employees and the risks and costs that this entails.
Speaking candidly throughout, they also discuss:
- the removal of the default retirement age
- the issue of an ageing workforce
- automatic enrolment
- recruiting, attracting and retaining a viable workforce
- financial advice
- the perception of 'annuities'
- the broader global retirement picture
