Retirement education in the workplace
DOI:
https://doi.org/10.61190/fsr.v17i2.4911Keywords:
Retirement planning, Workplace education, Personal finance education, Financial educationAbstract
In recent years, households have been expected to take more responsibility with respect to personal financial decisions. Workplace financial education is viewed as a means to help employees deal with the increasingly complex financial choices they face. This article provides an overview of literature that has examined the prevalence and effectiveness of personal finance and retirement education programs in the workplace. Results of a survey by the International Foundation for Employee Benefit Plans provide insight concerning the methods of delivery, topics covered and which workers are eligible to participate in workplace financial planning programs. The research suggests that those who participate in financial education seminars change their savings goals and behaviors in a positive way. At present, group meetings and workshops are the most popular method of program delivery in the workplace; however, web-based tools are gaining in popularity.
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