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Innovation and Creativity to be Rewarded By Pension Education Fund

The Department for Work and Pensions (DWP) is urging non-profit organisations to develop innovative ways to encourage employees, including the self-employed, to make provisions for their retirement.

The new scheme, which replaced the Pensions Challenge Fund, will enable employees to work in partnership with employers to gain accurate information from a trusted, impartial source and offer a creative approach to improve financial awareness.

Understanding Retirement

Stephen Timms, Minister of State for Pensions, said: “Research shows many people have low levels of understanding when it comes to planning for their retirement and there are working people who are not saving for their future. This is an exciting opportunity for organisations to share their ideas.”

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Those who generate the best proposals will be rewarded with money from the new Pensions Education Fund which was introduced as part of an initiative to bring the Government, public sector, voluntary and community groups together and promote the UK’s pension fund.

Dharmistha Patel

Planning for retirement? Let us know about funding funds in the FE Blog

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