Coronavirus (COVID-19) help and support

How we’re continuing to deliver for our members

Updated 14.10.2021

TPT has successfully supported our customers throughout the pandemic and we will continue to deliver our normal high quality service to our members during this period.

The health and wellbeing of TPT employees remains paramount and so we have taken all available precautions to ensure that the small number of employees who will remain office-based are both well protected and supported by teams working remotely.

Although our teams are working remotely, service disruption due to the impact of COVID-19 will be kept to a minimum. You will be able to contact us in the normal way, although you may find it more efficient to use our online options via your Retirement Savings Account. Thank you for your patience and support.

To help answer any specific questions you might have regarding your pension or our services at this time, please read the information below. 

 

Sending documentation to TPT

We would recommend, given the ongoing risk of postal services disruption, that you refrain from sending in original versions of formal identification or certificates and instead send officially certified copies.

(A certified copy of the original document has to be certified by: a Doctor, Post Office, Bank, Notary Public, or an individual you have known for 2 or more years and who you are not in a relationship with and is not a family member.) 

If you need to contact us and you are not submitting documents, please call or email using the details below – we are finding that postal deliveries are still variable.

Please email enquiries@tpt.org.uk or call us on 0113 234 5500.

 

The impact of COVID-19 on your pension savings 

The COVID-19 pandemic has had an unprecedented impact on the global economy. Initially, it led to large falls in global stock markets, followed by a recovery in values. 

These short-term swings, and the impact they could have on your pension savings, can be worrying. But it’s important to remember that many people have years – even decades – until they need to take their pension. Pensions are long-term investments and, although we don’t yet know the full financial impact of COVID-19, they’re designed to level out the kind of volatility we’re seeing right now.

If you are close to taking your pension, and your savings are invested in one of our target date funds, you’re less likely to have big falls in value as they’re less exposed to investments like company shares. Our investment managers are monitoring investments closely and will always act in the best interests of our members.

You can check on your savings at any time by logging into your Retirement Savings Account. If you have any questions or concerns, please email enquiries@tpt.org.uk or call us on 0113 234 5500.

Think carefully before you make any major decisions about your pension savings. Most importantly, take the time to get some guidance or advice. You can call the government’s Moneyhelper on 0800 011 3797 or, if you are 50 or over, make an appointment with Pension Wise.

You can learn more about the way your pension savings are invested by looking at our fund factsheets.

 

If you are nearing retirement 

If you are thinking about taking your benefits, our target date funds (TDFs) are designed to help reduce fluctuations in the value of your pension savings the closer you get to your retirement date. 

Nevertheless, the recent falls in investment markets have been rapid, broad based, and encompassing all investment types. Against this background, only investors pursuing the most cautious of strategies, investing purely in cash, would have avoided the sell-off altogether. 

Given the current circumstances, you may wish to reconsider your retirement options. These might include: 

  • Reconsidering how to take your benefits within the rules allowed by the Government’s pension freedoms – you have a number of options available to you.
  • Deferring taking your benefits and using other forms of savings until market conditions are more stable.
  • Continuing working and paying further contributions. 

If you are aged over 50, then you may wish to book a Pension Wise guidance session to help you understand your options.

You might also want to discuss your pension or if you’d like help with broader money issues you can contact Moneyhelper.

All these services are free, impartial and provided by the Government.

If you’d like to consider paying for personal financial advice, Moneyhelper can help you find a retirement adviser who is authorised by the Financial Conduct Authority. They also have some useful tips about how to find a financial adviser who’s right for you on their website.

 

Your pension payments 

Your pension payments remain our priority. Arrangements are in place to manage the process remotely. 

 

Finding out the value of your DC pension   

You can access your pension account through your Retirement Savings Account. 

Simply log in to your Retirement Savings Account to view the value of your pension. If you have forgotten your log in details, please contact our customer service centre via Contact TPT.

 

​COVID-19 and your pension - where to get help and avoid pension scams

The UK Pensions Minister, Guy Opperman, and the various pension regulatory bodies have issued a document which helps answer many of the questions you may have on how the current economic environment could affect your pension and retirement plans, click the link below to download.

COVID-19 and your pension - where to get help

Please also remember that in these challenging times, pension savers are being increasingly targeted by scammers attempting to lure them to ‘safe havens’. We recommend you exercise extreme caution if you are considering transferring your pension and visit ScamSmart which has specific guidance relating to COVID-19.

For more information you can also visit Moneyhelper.

If you have any further questions, please contact enquiries@tpt.org.uk or call us on 0113 234 5500.