Over three-quarters of workers want employers to offer more education on financial matters, starting with guidance on the A-Day changes, claims JPMorgan INVEST.
Research carried out by the company suggests around 3.3m workers could miss out on up to 66% extra cash in their old age because they don’t understand the benefits of the planned pension reforms, which could allow them to increase the funds available to them after A-Day. JPMorgan INVEST says 68% of those in full-time employment have no idea what A-Day is, with one in 10 believing it to be a proposed new bank holiday, a new EU directive or a day when people were encouraged to stop drinking. The reason for this “pension blind spot” is attributed by 46% to the over-complicated financial ja...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes