Untitled

Summary

A PensionBee survey of 1,000 U.S. workers revealed a critical flaw in benefits delivery: offboarding guidance is significantly weaker than onboarding. Because key retirement decisions happen during job transitions, poor exit communication can lead to abandoned savings.

As job mobility rises and financial literacy falls to ten-year lows, closing this gap becomes essential for both employee financial health and employer reputation.

Key Takeaways

Wellbeing > Pay

73% of workers would accept lower pay for a company that prioritizes wellbeing

Generational Divide

Gen Z and Millennials hold employers to much higher standards than Gen X and Baby Boomers

The Exit Gap

Benefit support drops significantly during offboarding, right when employees need it most

Financial Risk

Weak exit communication may drive forgotten retirement accounts

Example H2

Example H3

Employees increasingly expect guidance

An overwhelming majority of Americans (92%) said employers bear at least some responsibility for helping their employees make informed benefits decisions.

56% of respondents say their employer is partially responsible for their individual benefits outcome
36% believe employers need to take full responsibility
Just 6% say that offering benefits alone is sufficient

The findings reflect the growing complexity of retirement planning in the U.S., where workers are increasingly responsible for navigating rollover decisions, multiple retirement accounts, and long-term savings management on their own.

One study found that 43% of Americans don’t know what a 401(k) is, and even fewer can define an IRA. A study by the Government Accountability Office (GAO), found that a similar number (41%) don’t know that they pay fees on their 401(k). Meanwhile, new research shows that financial literacy has reached a ten-year low, reflecting widening gender and generational gaps in personal finance knowledge.

Despite pervasive knowledge gaps, more than half of private-sector Americans are now saving in 401(k)-type plans. PensionBee found that workplace retirement benefits remain a central component of employee financial wellbeing:

Nearly half (48%) say that their financial security depends on their workplace retirement plan
84% of respondents say that workplace retirement benefits are an important component of their financial planning
Just 4% of Americans say workplace retirement benefits do not matter

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Era of uncertainty marked by generational differences

PensionBee asked:
What percentage lower than your target salary would you accept to work for a company that genuinely prioritized your wellbeing?

PensionBee Pay Cut Chart

Source: PensionBee Employee Benefits Survey

Employees increasingly associate workplace benefits and financial guidance with broader company values, though attitudes vary by generation. The findings suggest employees increasingly evaluate employers not only on salary, but also on support systems, financial guidance, and overall workplace experience.

Nearly three in four Americans (73%) said they would accept some level of pay cut to work for an employer that genuinely prioritizes wellbeing.

Notably, the survey reveals that younger Americans may place a higher premium on workplace happiness. Gen Z (80%) and Millennials (79%) are the most willing to sacrifice pay for peace of mind, compared with Baby Boomers (63%).

Older generations are not only less likely to trade salary for their work environment, but also expect the least from their HR departments. Just one in five (23%) Baby Boomers believe the company should take full responsibility for guiding employees towards the best benefits decision. In contrast, nearly one in two (45%) Millennials felt this way, followed by 37% of Gen Z and 34% of Gen X.
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PensionBee asked:
Which statement best describes your employer’s general approach to employee benefits?

PensionBee Benefits Chart

Supportive: They genuinely prioritize my financial and personal well-being.
Transactional: They primarily offer benefits to attract and retain employees.
Compliant: They provide only the minimum benefits required by law.
Unsure: I haven’t given it much thought.
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Across generations, employees were most likely to say their employer's benefits approach reflected a good will effort to support employees. 41% described their employer's approach to benefits as genuinely supportive, with Millennials (45%) most likely to feel this way, followed by 40% of Gen Z, 38% of Gen X, and 37% of Baby Boomers.

Baby Boomers were significantly more likely than other age groups to view their company’s intentions as purely transactional (35%), compared to 22% of Gen Z and 28% of Millennials.

Gen Z (26%) were significantly more likely than other generations to believe that benefits decisions were merely a matter of meeting minimum compliance requirements.
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Offboarding is a growing weak spot

As workforce mobility accelerates, employees increasingly view offboarding as a reflection of how companies treat people overall.

Yet many employers appear to deprioritize communication during this stage of the employee lifecycle.

71% of respondents felt benefits were explained well during onboarding
Just 51% received the same quality of explanation during offboarding
37% felt onboarding communication was communicated “very well”
Only 24% said the same about offboarding
9% said they had to initiate the retirement conversation themselves

The communication gap is significant because offboarding is often the moment when employees must make complex decisions about what happens to their retirement savings.

Employees generally have four options:

Leave funds in a former employer’s plan
Roll funds into a new employer’s plan
Roll funds into an IRA
Cash out the account

Some of the easiest decisions operationally, such as leaving accounts behind or cashing out, may also create long-term financial consequences.
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Exit communication directly influences retirement outcomes

Nearly one in four Americans (24%) got no proactive information about their 401(k) when leaving a job. That gap may carry consequences for retirement savers.

The survey points to a relationship between the quality of offboarding communication and what employees ultimately did with their retirement savings.

Employees who said their retirement options were explained “well” or “very well”:

63% rolled over their account into an IRA or new employer plan
18% left funds behind
14% cashed out
5% lost track of what happened to their account

Employees who said their options were explained only “somewhat well”:

56% completed a rollover
19% left funds behind
14% cashed out
10% lost track of their account

Employees who said their options were explained “not well” or “not at all”:

42% completed a rollover
22% left funds behind
13% cashed out
23% lost track of their retirement savings

The majority (63%) of those who had their retirement options explained “very well” or “well” chose to roll over following a job change, compared to just 42% of those who received little or no information from their employer.

Employees who received little or no guidance were more than four times as likely to lose track of their retirement accounts. Meanwhile, cash-out behavior remained relatively consistent regardless of communication quality, suggesting immediate financial need may play a larger role in early withdrawals than education alone.

The outcome gap suggests that better offboarding support may materially improve rollover outcomes while reducing the number of abandoned retirement accounts.

While workplace retirement access may be at a record high, so too is the proportion of 401(k)s and 403(b)s that end up forgotten when employees change jobs. Previous analysis of Form 5500 data revealed that nearly one-third of all workplace accounts are dormant, jumping from 14.8 million to 28 million between 2012 and 2023.

In a benefits landscape as fraught with complexity as the U.S. retirement system, lack of information can be costly for participants.
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The reputational weight of employer communication

The findings suggest employees increasingly view offboarding as a reflection of company culture.

73% said the way a company treats departing employees reflects how it treats current employees.
38% said offboarding fully reveals a company’s true culture

Younger employees were more likely to hold this belief: 45% of Millennials and 40% of Gen Z agreed. Among Baby Boomers (29%), that number drops significantly.

Employees who experienced strong retirement guidance during offboarding were significantly more likely to retain positive views of their former employer.

51% of employees with strong exit support said their employer genuinely prioritized wellbeing
Compared to just 25% of employees who experienced weak or absent support

As boomerang employment becomes more common and job transitions accelerate, the employee exit experience may increasingly influence long-term employer reputation and future talent acquisition.

The findings suggest offboarding is no longer simply an administrative process, but an increasingly important financial and reputational moment for employers, advisors, and plan sponsors alike.

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About PensionBee
‍PensionBee (LON:PBEE; OTCQX:PBNYF) is a leading retirement savings provider, helping people easily consolidate, manage, and take control of their retirement savings. The company manages over $10 billion in assets and serves 315,000 customers globally, with a focus on simplicity, transparency, and accessibility. PensionBee offers Traditional, Roth, SEP, and Safe Harbor IRAs with ETF-backed portfolios from State Street Investment Management, one of the world’s largest asset managers. PensionBee is publicly traded on the London Stock Exchange (PBEE) with U.S. shares available on OTCQX (PBNYF).

‍Notes
‍The information provided in this announcement, including any projections for investment returns and future performance, is for informational and educational purposes only and should not be considered investment advice. Past performance is not indicative of future results. All investments carry risk, including the potential loss of principal. PensionBee is not liable for any losses or damages arising from the use of this information. Projections and forecasts are based on assumptions and current market conditions, which are subject to change.
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Methodology
This research was conducted on the Attest platform between May 5 and 7, 2026, among 1,000 U.S. adults aged 18 and older, all of whom were full-time employees at the time of the survey or had been within the previous 12 months. Responses were balanced to nationally representative quotas for age, gender, and region. Attest reports a margin of error of ±3.1 percentage points at the 95% confidence level. Participation was voluntary, and respondents could skip any question.

Investing involves risk.
The information and data set out above, including any projections for investment returns and future performance, is provided solely for informational and educational purposes and should not be relied upon for making financial decisions. Nothing presented here constitutes tax, legal, financial or investment advice. This information does not take into account the specific financial, legal or tax situation, objectives, risk tolerance, or investment needs of any individual investor. All information provided is compiled from publicly available data and research at the time of posting or PensionBee privately commissioned research obtained through third party survey providers. Images, figures, and projections used are derived from the data described, are provided for informational and marketing purposes only and do not represent actual customer returns. Projections and forecasts are based on assumptions and current market conditions, which are subject to change. This information, and any associated customer testimonial or third party endorsement, does not constitute an offer, solicitation, or recommendation to buy or sell any securities or investments. Your investment is at risk. Past performance is no guarantee of future results. PensionBee is not liable for any losses or damages arising from the use of this information.

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The Workplace Benefits Report:
The Generational Guidance Gap

Summary

Key Takeaways

Wellbeing > Pay

Generational Divide

The Exit Gap

Financial Risk

Table of contents

Employees increasingly expect guidance

Era of uncertainty marked by generational differences

PensionBee asked:
Which statement best describes your employer’s general approach to employee benefits?

Offboarding is a growing weak spot

Exit communication directly influences retirement outcomes

The reputational weight of employer communication

Why your high-yield savings account may be riskier than you think

The Workplace Benefits Report: The Generational Guidance Gap

Summary

Key Takeaways

Wellbeing > Pay

Generational Divide

The Exit Gap

Financial Risk

Table of contents

Employees increasingly expect guidance

Era of uncertainty marked by generational differences

PensionBee asked: Which statement best describes your employer’s general approach to employee benefits?

Offboarding is a growing weak spot

Exit communication directly influences retirement outcomes

The reputational weight of employer communication

The Workplace Benefits Report:
The Generational Guidance Gap

PensionBee asked:
Which statement best describes your employer’s general approach to employee benefits?