Dive Brief:
- Employees continue to view their odds of having a comfortable retirement with uncertainty even as they trust the financial guidance they receive from employer-provided resources, according to a recent survey conducted by Aon-owned insurance broker NFP.
- NFP found that 89% of employees trusted employer-provided financial advisors, and 62% said they found one-on-one meetings with financial professionals especially helpful. Yet, 69% said they were unsure that they could retire comfortably, and 24% believed that they lacked sufficient money to invest or didn’t make enough to do so.
- The findings come as a growing share of U.S. workers is “off track” for retirement, NFP said. But the firm also noted a declining awareness and understanding of employer-sponsored resources that could be addressed by clearer guidance and employer outreach.
Dive Insight:
NFP said its analysis showed that engagement is the main barrier to employees’ retirement readiness, rather than trust. It noted that concerns about financial readiness are only part of what holds workers back from engaging with advisors. Other concerns include incurring fees and general uncertainty about the value that speaking to an advisor can provide.
However, 84% of respondents said they would consider working with an advisor if given the opportunity, which NFP said demonstrates the actual level of interest employees have in employer-provided resources.
“What we see consistently is that employees who engage with a financial professional, even once, make more confident decisions going forward,” Stephen Jans, national practice leader, wealth management at NFP, said in a press release disclosing the results. “That first conversation often changes how employees approach their financial future.”
Past research, including a 2023 report by online savings platform Vestwell, supports the idea that employees want employers to be involved in their retirement. But there is also broader concern that the two sides are not on the same page regarding actual retirement readiness. A 2024 PNC Bank report, for instance, found that fewer than half of surveyed workers believed they were prepared for retirement, compared to 78% of employers.
A new approach may be timely given that 68% of U.S workers expect to reach retirement age without enough money saved, according to a 2025 Transamerica Institute survey. That percentage may be even higher in 2026, according to NFP, which also found that among workers ages 55 or older, 41% expected Social Security to be their primary retirement income source.
Employers may need to better explain the reality of retirement to employees so as to better prepare them, sources previously told HR Dive. This work can include providing information on the importance of compound savings, planning for healthcare expenses and setting expectations around annual income after retirement.
