It’s time to Pay Your Pension Some Attention!

Proud supporters of #PensionAttention

From September, TPT is taking part in the national ‘Pay Your Pension Some Attention’ campaign, designed to help you think about your pension savings and plan your future.

The initiative is fronted by grime artist and TV cook Big Zuu, who has written a rap song designed to get Brits to “Pay Your Pension Some Attention”. The campaign is built around three things Brits can do to consider their retirement savings “the Big Zuu way”. These are:

  • Make the connection. Those jobs you had in the past – did you make pension payments? Check your payslips and look out for old pension statements to find out where your pots are.
  • Think about your future intentions. Check out what could be coming your way when you stop working by using the pension calculator at pensionattention.co.uk
  • Ask questions – it’s ok to. There’s loads of clear information available via your employers, your pension providers or from the free and impartial service, moneyhelper.org.uk.

Our research shows that there’s never been a more important time to build understanding. When we asked members how confident they are in their knowledge of pensions, they gave an average score of 5/10.  Half say they want more support.

That’s why we’re constantly looking for ways to help our members plan for the future. This begins with our Retirement Savings Account, which allows you to check, track and manage your savings securely online.

You’ll find plenty of guidance on this website, tailored to the stage you’re at in your retirement journey. Click on either Save, Grow, Plan or Spend to find our best tips and tricks. You’ll find videos to help guide you, including ways to make the most of your online account and simple steps to build up your pension pot. There’s also an interactive video quiz which helps you think about the future and how much income you might need in retirement.

Each year, our members receive an annual benefit statement. It’s important to check this so you have a good idea of your savings and of how much income they might provide you with in retirement. You can find your statement in your online account. Once logged in, click on the ‘Changing my details with TPT’ button, scroll down and in the ‘Notifications’ section you’ll find ‘My Documents’. That’s where your statement is.

Pensions planning can feel complicated. If you want further help, you may wish to consider independent financial advice. As a TPT member, you can access advice through our partner Origen Financial Services. For £600 you can opt for one of two advisory services:

  • Help to review and maintain your plans for savings into your TPT workplace pension
  • Help with decisions around providing a retirement income from your TPT pension savings.

Find out more about this service, and other pensions guidance and advice available to you, including Pension Wise, a government service that offers free, impartial guidance, here.

We send our members important communications about their pension, and useful content to help them make the most of it. To make sure you receive these, please check that we have an up-to-date email address in your Retirement Savings Account.