These days, your employees have a lot more freedom and choice over how they can access their retirement savings. To help your employees get to grips with all their retirement options and make informed decisions when the time comes, we’ve introduced a new suite of retirement communications, giving your employees more time to understand their options.
Starting five years before an employee’s chosen retirement age, they can expect a new and engaging yearly update from us, closely following their birthday.
Each communication is designed to help them see where they are and get a feel for which retirement option is right for them.
To bring these changes to life, take a look at a sample of our new retirement engagement packs.
As we start counting down to retirement, we’ll highlight the key things your employees should be thinking about. Depending on their retirement aspirations, this will include such things as whether they should make a change to their investment choice or their chosen retirement age.
If something isn’t quite right, we’ll help them understand the steps they need to take to change things. On the other hand, if everything is as they’d expect – the pack should give them the confidence they’re on the right track.
We know these are big decisions, so we’ll always recommend your employees talk to a financial adviser. We’ll also be very clear on where they can go to find any extra help they might need.
To give your employees even greater support, they’ll now find some new educational videos on your dedicated pension website.
These short videos explain how we’ll help them get ready for retirement – and the different ways they can access the money in their plan.
These changes are part of a wider programme to improve ongoing retirement education and engagement with your employees.
We’ll be revealing more about further changes soon.