Demonstrate your commitment to supporting older workers by educating them about their pre-retirement options.
Before your employees take the leap and leave work, it’s important they have a clear plan for how they’re going to fund their life after work for the long term.
According to the Association of Superannuation Funds of Australia, a single person aged
65 years is predicted to need in excess of $43,665 per year to lead a comfortable retirement - that’s around $840 per week.ASFA Retirement Standard, March quarter, 2017
While your employees’ exact needs will depend on things such as their existing financial commitments, health, lifestyle, and what they want to do with their retirement days, whichever way you cut it – it’s not an insignificant amount of money.
The challenge is that some, if not many, of your employees may lack the financial understanding or preparedness necessary to ensure a comfortable and dignified retirement.
Your workplace options
Establishing workplace programs to address this challenge is a great way to show your support for staff by providing relevant and appropriate ancillary benefits and education opportunities.
While the approach you take will depend heavily on the needs of your unique workforce, some options you may wish to consider include:
- Education seminars and financial planning workshops in your workplace
- Providing access to specialist superannuation information, tools and advice, or
- Providing older employees with regular financial or lifestyle-orientated communications
relevant to their age and career stage.
How we can help
As your super fund, we’re here to help ensure your employees feel future ready at every stage of life, especially when considering important decisions such as when to leave the workforce. We offer a range of retirement planning seminars at locations across Australia, and can even hold tailored education events at your workplace.
Contact us to find out how we can work with you to support your older employees through education or broader support programs.I want to request a seminar