The average person in the UK can expect to change jobs 12 times during their career. So in addition to the pension arrangement you provide, your scheme members are likely to have multiple ‘pots’ of retirement savings they need to consider when making their retirement plans.

The first step sounds the easiest but may still not be straightforward for many of your scheme members.

Even if they can remember the name of each of their employers through their working life, what if that employer no longer exists? They may have changed their name, merged with or been taken over by another company, or they may have simply closed.

The same can be said of the administrator of the pension scheme, there have been numerous mergers and acquisitions of pension administrators in recent decades.

So even finding a leavers statement from an old employer’s pension arrangement may not be the end of the search for your scheme members.

It is therefore not surprising that the Government estimates that there are £400 million in unclaimed pension savings.

Add to this the complexities around the State Pension, especially for women affected by the State Pension Age equalisation process and suddenly it’s easy to see why Step 1 in the process may be a daunting challenge for any scheme member.


We carried out a survey of 2,000 individuals aged 50-65 who had pension savings with their employer. Some of the findings were eye opening and a clear indication of the need to support and guidance at retirement.

couldn’t estimate the value of their retirement savings

don’t have a retirement plan

didn’t know the meaning of the term Flexible Access Drawdown

didn’t know about the government initiative to allow access to retirement savings to pay for retirement advice

would like retirement planning advice as part of their benefits package


Making an un-informed decision at retirement could cost your scheme members tens of thousands of pounds over the course of their retirement. Our five step guide to retirement highlights some of the obstacles your members might face in the decision making process.


Premier Pensions provided an engaging and thorough solution to a problem arising due to legislation, which encompassed providing various media for engagement and Retirement Relationship Managers to actually talk to our members. We are very happy with Mercer Pension Decision team and the service they are providing. - Skipton Building Society


In October 2017 we branded a double decker bus and took our Pension Decision Service on the road. We visited four of our clients in three days, before stopping at the PLSA Annual Conference and Exhibition in Manchester. Our aim was simple - to take the conversation to the people.

In doing so, as one of our visitors put it, we really took the discussion about retirement and pensions to the people.

Premier Pensions, a trading name of JLT Benefit Solutions Limited, which is authorised and regulated by the Financial Conduct Authority. JLT is part of Mercer, a Marsh & McLennan company. Registered Office: The St Botolph Building, 138 Houndsditch, London EC3A 7AW. Registered in England No 02240496. VAT NO. 244 2517 79 

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