“Since 2015, there has been a 25% increase in the number of employers providing information to their workers about workplace pensions, bringing the total to 83%. This is encouraging growth, which is likely driven by auto-enrolment. However, government need to continue to apply pressure and give support to employers so that number edges closer to 100%.
“It’s not all positive, however, as still less than 60% of employers are providing information on pension freedoms. Pension freedoms requires engagement and if people do not have any awareness of the options they will have available to them, it’s impossible for them to plan appropriately. In fact people may be more willing to part with their day to day to income and put it into their pensions if they know there is flexibility on when and how they withdraw that money.
“As people are working longer and retirement trends are shifting, employers are becoming vital sources of information about funding retirement and pensions in particular. As the figures from the DWP reveal, nearly 80% of employers have employees over 50 and almost 30% have a majority of older workers.
“Shifts towards flexible working arrangements in later life are still relatively low, with just 6% of employers saying they received requests for changing working patterns from employees approaching retirement, but encouragingly the vast majority say they will accept requests.
“Maintaining some kind of work later in life is likely to become more common and it’s encouraging that employers are willing to be flexible.”