For many employees, retirement no longer feels distant. As they get older, conversations shift from promotions and projects to pension withdrawals, healthcare planning, and whether savings will truly last. Employer support at this stage needs to be practical, specific, and reassuring.
Well-designed financial wellness benefits can bridge the gap between uncertainty and confidence. When employers tailor support to late-career needs, employees will be better equipped to make informed decisions about their next chapter.
Personalised Retirement Planning
Retirement preparedness remains one of the top focus areas in workplace financial wellness initiatives. When retirement readiness is treated as a core issue, not a side topic, employees gain clarity on what their savings will actually deliver.
Employers can strengthen support by offering personalised:
➔ One-to-one sessions with regulated financial advisers
➔ Pre-retirement income workshops focused on real-life scenarios
➔ Guidance on catch-up contributions and tax-efficient savings
Personalised conversations help employees translate abstract balances into projected monthly income. Confidence grows when people can see how their plan supports the lifestyle they want.
Healthcare Cost Education
Healthcare and later-life expenses often cause more anxiety than market volatility. Near-retirees worry about out-of-pocket costs, insurance transitions, and the impact of long-term care on their savings.
Employees increasingly value benefits beyond salary, including employer-supported financial guidance. For someone approaching retirement, clear projections around medical and lifestyle expenses turn uncertainty into planning.
Structured education sessions can walk employees through expected cost ranges, funding options, and risk-management strategies. Even small adjustments today, such as boosting savings or adjusting asset allocation, can protect future income streams.
Life Settlement Awareness
Retirement planning should not focus solely on pension pots and workplace schemes. Many employees hold life insurance policies that no longer fit their needs but still carry value.
A life settlement allows policyholders to sell an existing policy to a third party for more than its cash surrender value but less than its net death benefit.
Buyers take over premium payments and receive the benefit later. Policyholders who complete a settlement often receive six to eight times more than the insurer’s surrender offer, depending on age, health, and policy terms.
For employees in the United States who own life insurance policies they no longer need, simply surrendering or allowing a policy to lapse may mean giving up significant financial value. Before making that decision, it's worth finding out whether they are sellers eligible for settlement, as qualifying policyholders may be able to receive a lump-sum payment that can strengthen their retirement finances.
Reducing Financial Stress
Research shared by WorldatWork highlights how workers closer to retirement often prioritise guaranteed income options, catch-up contributions, and education around transitioning out of the workforce. Aligning benefits with those priorities helps employees feel supported.
When employers address emotional as well as numerical aspects of retirement planning, productivity often improves. Employees who feel financially secure are more focused, more engaged, and more prepared to exit the workforce on their own terms.
Supporting Employees Nearing Retirement
Financial wellness benefits can better support employees approaching retirement when they become targeted, practical, and relevant. Personal advice, clear education on healthcare costs, broader asset awareness, and emotional support all create stronger outcomes.
Employers reviewing their benefits strategy have an opportunity to make a meaningful impact. If your organisation is exploring ways to expand retirement-focused support, review your current financial education offerings. And check out some of our other related content.