The Pensions Management Institute (PMI) has launched a financial education and guidance service supported by Wealth At Work.
The service - RetirementMatters - has been specifically designed to support employees and pension scheme members approaching retirement and aims to help members understand how to make the most of their pensions and savings to make more informed decisions about their retirement.
Its educational programme will offer a range of options from online seminars, one-to-one guidance and digital content. It will also offer classroom workshops once social distancing restrictions are eased and there is also an option to request a tailored programme.
PMI chief executive Gareth Tancred said: "Most employers and trustees recognise that for those members nearing retirement, it is important that they are well equipped to understand their retirement income options and how to mitigate any associated risks.
"The PMI are well aware of these issues and are pleased to be able to support trustees, schemes and employers through the provision of retirement-focused financial education and guidance service provided by Wealth At Work.
"Not only does this help us achieve our fourth objective of our five-year plan to make a difference to the economy and society; but it helps pension savers make well-informed decisions which will lead to improvements in their overall financial wellbeing."
Wealth at Work director Jonathan Watts-Lay added: "We have been delivering financial education and guidance for many years and know what a difference it can make to savers as they discover how to get the most out of their pension and any other savings and investments.
"Our programme will help employees and pension scheme members understand their retirement income options and be aware of the risks involved whether that be the risk of being scammed or simply paying more tax in retirement than they need to. The aim of this service is to ensure all those approaching retirement make informed decisions."
A free introductory online seminar is available to employers and pension schemes at 10am on 13 August. Further information on both this and the broader service can be found on the PMI website.
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