Scottish Widows has teamed up with the Institute of Financial Planning (IFP) to offer better guidance when it comes to financial planning within the workplace, following research from its fifth annual Scottish Widows Pensions Report which shows that 76 per cent of people would like some kind of employer guidance on their finances.

The report also shows that, whether a pension is on offer within a workplace, 43 per cent of people still believe that general information should be provided by the employer.

Tying in the launch of 2009's Financial Planning Week, which runs from 7-13 September, Scottish Widows will organise free workplace financial planning seminars to employees at technical and management support services provider AECOM.

John Taylor, market director, corporate pensions at Scottish Widows, said: "Our research shows that a huge number of people would like the opportunity to receive financial advice in their workplace. By providing free financial planning seminars we hope to advise on how employees should be managing their finances better so that they can plan for their futures. Financial planning in the workplace is a great way to alert everyone to the importance of saving for the future, and raises awareness of the need to prepare adequately for retirement. We would hope that once there is a better level of education amongst employees from these practical seminars, there will be a greater understanding of the need to plan for retirement."

Sixteen per cent of people said they would go to their employer if they were seeking further information about pensions, and 55 per cent would be encouraged to start saving for their retirement if they were able to join a company pension scheme.

"I am delighted to work in partnership with Scottish Widows to deliver financial planning seminars to our employees," added Paul Williams, director - head of pensions at AECOM. "In the current climate, the need to raise the level of financial education in the workforce has never been greater."

Share Story: