Recent surveys have ended up revealing that there exists a substantial gap between what the medical retirement benefits actually turned out to be for the retired officials and what they were told about them by the employers when they were about to retire. The results of the survey were overall very staggering and the best depiction of this fact is that around 43 percent of the retired officers that were surveyed said that their employers had offered them no guidance whatsoever and they had to figure things out for themselves.
Disconnection over medical retirement benefits:
The survey was started in September of last year by a company named Towers Watson. It encompassed around 144 HT executives and normal officers. During March of this year, the company also managed to survey around 3800 employees that were aged 65 or more and had previously worked at similar organizations as their employer counterparts of the previous year’s survey.
Other revelations from the surveys are also pretty awe-inspiring. Around 34 percent of the retirees revealed that their employers told them about the costs that are not covered by the subsidy of the employer. Around 53 percent of the employers said that they had made their employees aware. Around 20 percent of the retired officers revealed that they were told about financial planning possibilities and other mechanisms that would have helped them understand the medical retirement benefits and the processes involved better. Around 41 percent of the employers that took the survey claimed that they had told the employees about this.
The thing that startles you the most is that there are stark differences in the answers given by the employers and the employees and things don’t add up. This does leave a person thinking and we would have to see what the experts have to say about this disconnection.
