Turning retirement benefit counselling into a strategic business asset

Published Date: 10/20/2025
Source: By Sipho Sibanda, Head: Employee Financial Wellness at Momentum Corporate

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In today’s competitive landscape, the war for talent is fought not just with salary offers, but with the depth and perceived value of the total employee benefits package. While many retirement funds and companies view retirement benefit counselling as a checkbox on compliance list, leading retirement funds and organisations are increasingly recognising it as a competitive advantage and an essential employee wellness intervention that directly impacts the bottom line.

A financially anxious employee is a distracted, less productive, and less loyal employee. Financial stress - often rooted in confusion about retirement savings, benefits, and future security - is a silent drain on corporate performance. Investing strategically in comprehensive retirement benefit counselling is therefore no longer a “nice to have” but rather a critical business strategy for talent attraction, retention, and enhanced productivity.

The traditional approach to retirement benefit counselling focuses only on the minimum required education - often an annual presentation detailing contribution rates and fund rules. This misses the opportunity to convert abstract benefits into tangible, personal value for the employee.

The strategic business case for comprehensive retirement benefit counselling relies on three pillars. The first pillar is increased productivity. When employees are empowered with clear, accessible financial guidance, their level of financial stress decreases. Studies consistently show that less financially stressed employees exhibit higher focus and engagement at work. Retirement benefit counselling acts as a vital wellness intervention, allowing employees to move their focus from personal financial anxiety to professional performance.

The second pillar is super talent retention. In the battle for skills, employee benefits are the new battlefield. Retirement benefit counselling is the critical bridge that converts the employer’s substantial investment in retirement benefits into value that the employee understands and appreciates. Empowered employees are more likely to recognise the true value of their total compensation, significantly improving loyalty and retention rates in a dynamic labour market.

The third and final pillar is informed decision-making. Retirement benefit counselling prevents costly mistakes. Poor decisions around preservation of funds upon resignation, opting out of risk benefits, or mismanaging retirement date choices can be devastating for the employee and create downstream administrative and moral challenges for the employer. Comprehensive counselling ensures employees make informed, beneficial choices, safeguarding their financial future and the reputation of the fund.

The goal of strategic retirement benefit counselling is to guide an employee’s financial journey "from pay slip to prosperity". This is achieved by moving beyond generic advice to adopt a targeted, demographic-specific approach.

The financial needs and communication preferences of a Gen Z employee, for instance, are vastly different from a long-term staff member nearing retirement. For younger employees, for example, counselling should focus on the power of compound interest, understanding risk benefits (life and disability cover), and the importance of fund preservation when changing jobs. Communication should leverage digital, interactive platforms.

For mid-career staff the focus should shift to contribution levels, balancing debt with savings, understanding the benefits of additional voluntary contributions (AVCs), and family financial planning.

For employees heading towards retirement, counselling should be highly detailed, covering retirement income options, tax implications, withdrawal rules, and the crucial transition from an accumulation phase to a de-accumulation (income generation) phase.

A comprehensive retirement benefit counselling strategy should integrate both digital tools for broad accessibility and personalised, one-on-one sessions for complex decisions.

The complexity of modern retirement planning - especially with the introduction of new legislation and varying benefit structures - requires specialist expertise. For principal officers, trustees, and HR leaders, partnering with a provider that treats retirement benefit counselling as a strategic engagement tool is essential.

Retirement benefit counsellors need to be definitive experts in leveraging financial wellness to drive business outcomes, offering customisable, technology-enabled solutions that cater to the diverse needs of workforces, help to transform employee benefits into a proactive, strategic business asset.

Employers who choose to empower their staff with clear, accessible financial guidance gain a significant edge in the war for talent. Businesses that invest in comprehensive retirement benefit counselling are not just ticking a compliance box; they are investing in engaged employees, higher productivity, and a more resilient business. Given the significant advantages it provides, it’s time to treat benefit counselling with the strategic gravitas it deserves.