Benefit
Combined Pension Forecasts can benefit an occupational pension scheme in several ways:
- Increased contributions – providing individuals with Combined Pension Forecasts may lead them to review their retirement planning and increase their contributions.
- Potential for scheme growth – issuing Combined Pension Forecast statements to employees who are not in your occupational scheme and currently only receive their State Pension forecast may encourage them to review their pension provision and join the company pension scheme.
- Increased employee satisfaction – Combined Pension Forecasts can give employees a clearer indication of employer’s contributions to their retirement income.
- The process is simple – At every stage an employer receives full support from the Combined Pension Forecasting team.
- Cumulative effect – As the forecasts are issued each year throughout a person’s working life they are better able to take account of changes in their circumstances.
Seeing the benefits in action
Since its launch, the Combined Pension Forecasting team has commissioned two independent reports that look at the value of the service to individuals and employers/ pension providers.