As employees take on increasing responsibility for their retirement planning, many are losing ground in the quest to become retirement ready. This has serious implications for individuals, companies and society alike. It’s time for a more balanced solution for retirement planning — one that offers employees control over their financial choices while providing enhanced employer guidance and oversight.
Traditional methods of evaluating retirement programs won’t tell you whether your program is meeting its core objective: to help employees achieve a comfortable retirement at a reasonable age. Mercer’s Retirement Readiness Analytics is an enhancement to traditional analysis. We evaluate your employees’ “retirement-ready age” to help you figure out which actions will have the biggest impact on their financial well-being.
Retirement savings and pension plans are the second most-valued employer benefit for Canadian workers — and their biggest financial worry.1
Smart employers are taking action to improve their employees’ financial wellness. They know that financially well employees are better engaged and more productive at work. And financial wellness includes having confidence in their readiness to retire.
With insights gained from Retirement Readiness Analytics, you’ll have the information you need to design more effective retirement plans and better communication campaigns. These actions not only improve employee financial wellness, they can unclog the career bottleneck, close the gender gap and help you better manage your workforce as populations reach retirement age.
We look at retirement readiness from a personal perspective: by using the retirement-ready age — the age when a person can comfortably retire — as the key measure of success.
No two organizations are exactly alike, and no two reviews will be the same. We take into account your organization’s workforce demographics, industry characteristics and more. Most companies can benefit from certain interventions, such as effective communication and education to improve investment outcomes. Our “what if” scenarios help you choose the best strategy with the best chance for retirement readiness success.
Get the information you need to make better decisions about your retirement plan strategy and improve your employees’ financial well-being.
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