As this research shows, employers believe there is still a significant need to support their retirees so they understand and make the best decisions at retirement.

It is interesting that the top concerns for retirees are making the best choice when accessing their pension (post pension freedoms) and financial security in retirement, with 56% and 53% of respondents worrying about these issues.

Planning for retirement doesn't only happen at retirement. In particular with defined contribution (DC) pensions, understanding the difference that can be made by the number of years of contribution, contribution levels, retirement age and where the pension is invested from the outset as well as their choices at retirement, will lead people to make the most of their pension savings.

This type of education will benefit anyone saving into a DC pension at any stage of their career; seeing the potential impact of the decisions they can take on their future financial health is empowering.

That said, when people arrive at retirement they have decisions to make and poor decisions can be costly and potentially irrecoverable. This is why it is vital that retirees are given education, guidance and access to financial advice to ensure they are well informed and well supported so that they make the most of this valuable benefit.

If employers do nothing else on the financial wellbeing spectrum, they should ensure that their retirees at least receive specialist education, guidance and advice.