Could your employees help their pension savings grow?

Encouraging your employees to review their pension savings, could help them see if they could benefit from making changes.

Your pension scheme is there to help your employees save for their future and plan for the retirement they want. But with the ongoing cost of living crisis, they may be trying to balance their day to day finances with their longer term retirement needs.

Encouraging your employees to review their workplace pension savings before the end of the tax year, 5 April, can help them understand if they could benefit from making any changes. For example, increasing regular contributions or making a one-off pension contribution, sometimes referred to as single contribution.

Tax year end - what employees need to know 

Our customer tax year end hub gives employees access to information on how to grow their pension savings, tax relief, pension contribution limits, important deadlines and how to make a one-off pension contribution.

They can learn more about the tax benefits of making a one-off pension contribution to their plan by reading our article.

Encouraging employee engagement

To help you support your employees on their pension journey we have a poster, a range of email templates, a digital banner for use on your intranet, an email footer you can use to share information with them and some example case studies for increasing regular contributions based on a range of salaries.



Email templates


Digital banner 


Email footer


Case studies

Should I increase my regular contributions? (salary exchange schemes)


Should I increase my regular contributions? (relief at source schemes)


These can also be found under the Making pension contributions section in your employee engagement toolkit which has lots of support items you can use to prompt employees to revisit their pension savings, and take action if required. 

You can also encourage them to read our article on the tax relief benefits when paying a one-off pension contribution into their plan.

Employees can see what their Royal London pension savings are worth now, contributions made over the last year, and any tax relief, by logging in to our mobile app.

One-off pension contribution options

If any of your employees want to make a one-off pension contribution, they can do this by bank transfer or bonus sacrifice.

Bank transfer

If they want to transfer money from a bank account they simply need to fill out a single contribution form.

Bonus exchange

If your workplace pension is set up under a salary exchange arrangement, your employees can choose to exchange all or part of any contractual bonus they receive, in return for a pension contribution. This is called bonus sacrifice.

If your employees receive a guaranteed bonus, you’ll need to give them an agreement letter to sign detailing their bonus amount before and after bonus sacrifice. You can then include your employees’ bonuses in your regular payroll run.

If their bonus is performance related, and isn't guaranteed, you'll still need an informal agreement that any bonus will be paid as an employer pension contribution.

Find out more

For more information on workplace pensions support available at tax year end speak to your usual Royal London contact or financial adviser.