2025 has arrived. How are your employees feeling? The new year is always a time when well-being is top of mind – and more importantly the changes we can make to achieve it. At a time when the uncontrollable – economic uncertainty, rising prices, market volatility – weighs heavily on many, focusing on the kind of positive change you can control is more important than ever.
It may be easy to imagine the financial well-being that guaranteed retirement income can bring in the future. But knowing you’ll have that spending money in the future could offer a serotonin boost now.
Our latest Read on Retirement® report found that 80% of workplace savers say worrying about outliving their savings is negatively impacting their mental health today, and 93% say knowing they’d have guaranteed retirement income would help improve it. It’s well-documented that financial strain can spill over into work, too. In fact, financially stressed workers are less productive, are twice as likely to look for a new job and spend on average of three work hours per week dealing or thinking about personal finances1.
It’s why we’ve developed LifePath Paycheck™, a solution designed to give workers access to income streams they can rely on in retirement, and the accompanying LifePath® Spending Tool, which is designed to calculate retirement spending potential, helping them plan for that next chapter.
Our report found that 99% of workplace savers say this type of income solution is appealing, and it’s a sentiment shared across generations, signaling that workers at all stages in their career are craving a benefit that helps them not only save, but spend, in retirement. At a time of such economic volatility that sentiment is no surprise, and it’s time for employers to take note. Forget the office ping-pong table and kombucha on tap – workers want to experience the security of a lifetime paycheck.
Employees aren’t working toward the gold watch anymore. They’re working toward golden sunsets. And they want the serenity now that saving for later brings.