New retirement packs for your employees

14 January 2020
Your employees will now receive more communications in the lead up to retirement.

The Financial Conduct Authority (FCA) recently published some changes to help tackle some of the issues they identified in the retirement market. From 1 November 2019, all pension providers need to send customers a new age-based pack at age 50, then every five years until they’ve accessed all their pension savings.

Your employees’ retirement journey

We believe engagement is really important in driving the right behaviours, to help your employees achieve the best outcomes.

The new, age-based packs are designed to show your clients the value of their savings and any features their pension may have that could affect the decisions they make in the future. The format, timing and messaging is heavily prescribed by the FCA, but we’ve used clear and simple language to help your employees understand what pension savings they have and where.

The retirement engagement packs are designed to help your clients get to grips with all their options, and how they might look for them. This is different from the new age-based packs, and together this suite of retirement communications will help your employees get ready.

Take a look

When will my employees receive each pack?

Assuming your employees have a chosen retirement age of 65, they’ll receive the following communications:

  • Age 50 - Age-based pack on their 50th birthday.
  • Age 55 – Age-based pack 8 weeks before their 55th birthday.
  • Age 60 – Age-based pack 8 weeks before their 60th birthday and a retirement engagement pack approximately 10 weeks later, on their 60th birthday.
  • Ages 61 to 64 – Retirement engagement pack.
  • Age 65 - Retirement engagement pack 6 months and 3 months before their 65th birthday.

Do I need to do anything?

No - it’s our responsibility as your pension provider to make sure your employees get these packs so we’ll send them out automatically.


If you’ve got any questions, your usual Royal London dedicated servicing team will be happy to help.

If your employees have questions, their pension scheme website has some information about their retirement options, and they can of course contact our servicing team too. They might also want to speak to their financial adviser after receiving these packs. If they don’t have an adviser, the letters will detail how they can find one.