Retirement Planner

Help your employees feel in control of their financial future

Retirement income planning fills most people with dread. A typical employee will have built up benefits in a number of pension schemes during their career, and will experience confusion at the prospect of pulling them together to see the big picture.

Other sources of savings and income, such as the State Pension, which are just as important in retirement planning, can add to the sense of anxiety.

Supporting people with their retirement income planning can have a positive impact on financial wellbeing in the workplace. It can encourage young employees to start saving earlier, provide more certainty in the approach to retirement, and increase confidence throughout people’s working lives.

We have created a simple tool that helps people understand their retirement finances.

First Actuarial’s Retirement Planner estimates an individual’s potential retirement income from all sources – including occupational schemes from past and present employers and the State Pension.

This removes the fear of the unknown that individuals of all ages feel about their financial future – and shows the difference that saving a little bit more can make.

How does our Retirement Planner work?

Our Retirement Planner helps employees consider a ‘target income’ for retirement. It builds a picture of potential total income from past, current and future pension savings – including the State Pension and Defined Benefit and Defined Contribution schemes.

With this picture, the Planner then helps people think about their potential income in retirement. They can see if they are on track to retire when they would like to, with an income that will give them the lifestyle they’re looking for.

If they’re not on track, the Retirement Planner makes it easy to explore ways of making changes. The tool helps them see the effect of changes to their planned retirement date or pension contributions. Alternatively, they can aim for a different target income.

They can also explore the impact of taking any Defined Contribution schemes in annuity form or as flexible income drawdown.

A bespoke Retirement Planner for your organisation

Some employers ask us to create a bespoke version of the Planner, to include details of their own pension arrangements and benefits.

We design interfaces that are easy to use. They display information that aligns with the benefit statements members receive from their current pension scheme. We can also customise the Planner with the organisation’s branding.

The Retirement Planner often forms the powerful centrepiece of a broader financial wellbeing programme.

In one-to-one sessions with employees, we use the Planner to show someone their retirement finances, and then help them refine their plans. The tool provides a good talking point, and often helps ease anxieties around retirement and pensions.

We can also provide webinars and teaching videos to show how to use the Planner. And your organisation can make the tool available on your own network so employees can access it at their own convenience.

Why choose First Actuarial?

Many online pension planners only take into account an individual’s current scheme and maybe the State Pension.

With our Retirement Planner, individuals can add schemes and other sources of savings they’ve built up throughout their lives. And importantly, we make it as quick and easy to use as possible.

Colleagues found it easy to get a clear picture of their savings with the Retirement Planner. Feedback has been really positive.

- Julie Cridland, Employee Experience Lead, Aster Group

Get in touch

Get in touch for a demonstration of the Retirement Planner, or to discuss how we can create a bespoke version for your organisation.

Find out more about our financial wellbeing services

Download our financial wellbeing brochure.

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First Actuarial case studies

FTSE 100 business

From websites and webinars to one-to-one discussions, First Actuarial's financial wellbeing programme meets the needs of all employees and receives rave reviews at a leading fast moving consumer goods business.

"First Actuarial staff have a real passion about financial wellbeing. They make a real difference to people’s lives by helping them manage their finances properly. And that comes through in their energy and commitment to everything they do."

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Bromford

First Actuarial partnered with Bromford to communicate extensive pension scheme changes and improve financial wellbeing, delivering more than 40 group presentations to 1,200 colleagues.

"Working with First Actuarial was a highly professional partnership that had a positive effect on our colleagues. We received great feedback on both the group and one-to-one sessions they ran."

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Aster Group

Housing association Aster Group extended its financial wellbeing programme and brought in First Actuarial to deliver a bespoke Retirement Planner, with supporting webinars and one-to-one sessions.

“People love the one-to-ones and are grateful for them. It’s a valuable offering that would otherwise cost them hundreds of pounds. People recognise it as a real benefit.”

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See all our case studies
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