Pension planning: Don’t let employees bury their head in the sand

With 2018 still in its infancy, there is still time for your staff to take control of their pension planning and ensure they are doing enough in respect of their retirement strategy.

With automatic enrolment now applying to all employers, it is important that employees make the most of the pension benefits facilitated by the company and subsequently value the benefit the employer is providing.

Track pensions

Obtain projections

It is important that employees don’t bury their head in the sand thinking retirement is many years away. Taking action to top up contributions now could make more of a difference than if they leave it for a few more years.

This is also known as an ‘expression of wish’ form. These guide the pension provider/trustees as to where the member would like any benefits paid in the event of their death. As people’s circumstances change, these forms should be updated regularly.