Pension Decision Service

When approaching retirement your employees are faced with arguably one of the most difficult decisions in their lives, so whether you offer a Defined Benefit scheme, a Defined Contribution arrangement, or both, the Pension Decision Service provides support to your employees to help them make the most of retirement.

See how the Pension Decision Service would help your employees

OUR FINDINGS

We carried out a survey of 2,000 individuals aged 50-65 who had pension savings with their employer. Some of the findings were eye opening and a clear indication of the need to support and guidance at retirement.

39% couldn’t estimate the value of their retirement savings 

couldn’t estimate the value of their retirement savings

49% don’t have a retirement plan

don’t have a retirement plan

63% didn’t know the meaning of the term Flexible Access Drawdown

didn’t know the meaning of the term Flexible Access Drawdown

78% didn’t know about the government initiative to allow access to retirement savings to pay for retirement advice

didn’t know about the government initiative to allow access to retirement savings to pay for retirement advice

65% would like retirement planning advice as part of their benefits package

would like retirement planning advice as part of their benefits package

THE FIVE STEPS TO RETIREMENT

Making an un-informed decision at retirement could cost your scheme members tens of thousands of pounds over the course of their retirement. Our five step guide to retirement highlights some of the obstacles your members might face in the decision making process.


Step 1 the five steps to retirement Step 2 plan your future Step 3 know your options Step 4 get guidance and advice Step 5 make your decision

WHAT OUR CLIENT SAID

Quotes

JLT provided an engaging and thorough solution to a problem arising due to legislation, which encompassed providing various media for engagement and Retirement Relationship Managers to actually talk to our members. We are very happy with JLT’s Pension Decision team and the service they are providing.

- Skipton Building Society


Read Skipton Building Society Case Study

Did you hear about the 2017 Pension Decision Service bus tour?

In October 2017 we branded a double decker bus and took our Pension Decision Service on the road. We visited four of our clients in three days, before stopping at the PLSA Annual Conference and Exhibition in Manchester. Our aim was simple - to take the conversation to the people.

In doing so, as one of our visitors put it, we really took the discussion about retirement and pensions to the people.  

Read more about the Pension Decision Service tour