Two-thirds of employers offer no tailored retirement support to their older workers Aviva has found.
The insurer's latest Real Retirement Report said 56% of employers have spent money on providing employee benefits such as pensions, private medical insurance, and annual bonus, yet, despite this investment only 36% of employers provide employees with guidance in the run-up to retirement.
Aviva said this lack of guidance not only highlights a lack of commitment to employee benefits but is also likely to lead to a loss of vital skills from older employees.
Almost a third (32%)* of those who qualify for the state pension are still looking to work - at least on a part-time basis - so by engaging with an employee's retirement planning a business may be able to keep their valuable employees for longer.
Clive Bolton, ‘at retirement' director at Aviva commented: "In order to motivate and retain staff, many employers invest heavily in them through the provision of pensions and other benefits, but then let them drift away at retirement.
"The end to the default retirement age and growing financial pressures have seen a growing trend towards part-tirement, whereby older people look to cut back on their working hours but are not yet ready to stop working altogether."
In fact, of the 36% of employers who recognise the benefits of providing support to older employees, the main focus is on enabling them to remain working for longer if they choose.
The vast majority of employees aged over-55 who have received support from their employer welcomed it, with 70% saying they found it useful.
Nearly a quarter (23%) said it played an important role in their retirement planning alongside other elements, with 16% saying it was the most important part of their financial planning, and 4% saying it was the only help they received.
