We’ve created a fresh and modern design, that’s simple and easy to follow. It’s packed with clear and colourful visuals and pulls out the key things that our customers tell us are important to them.
We’ve made it easier for your employees to understand their retirement savings and make informed decisions. It includes information like the current value of their savings, the year on year performance of their plan and the charges they’ve paid.
If they’ve signed up for access to our online service, they’ll now be able to see a copy of their statement in the plan documents section.
The new statement also highlights the value that you add to their retirement savings, and helps show that as an employer you’re doing the right thing for their retirement.
We’ve also listened to feedback from employers and advisers and will no longer send you copies of your employees' annual statements or our scheme summary schedules. If you require access to any employee or scheme information, it’s available to you on our award winning online service.
We also want to support your employees who are approaching retirement. Back in February, we told you about our new suite of retirement communications designed to help employees understand their retirement options and make informed decisions. These communications will start five years before their chosen retirement date and will highlight the key things employees should think about.
Both of these new communications will point your employees to their pension scheme website if they need more information about how their plan works and the options that they have. And if they need help making decisions about their retirement savings, we’ll always recommend that they talk to a financial adviser.