Pension communication

Pensions are probably the employees’ most valuable benefit, although they might not realise it. Because people are easily turned off by the language used and the way the information is presented, many of them don’t realise the huge investment their employer is making on their behalf and, perhaps more importantly, what their likely retirement income is going to be.

That’s why mybenefits is designed to give the employee clearly presented and easy-to-understand information, including communication from their employer alongside scheme details, and a ‘plain English’ statement of what their likely retirement income will be (dynamically updated). They can also enter details of any other pensions they have, which makes sure that the estimated retirement income is as accurate as possible and, of course, we provide a forecasting tool to show them what will happen if they alter their contributions.

Employee features

• Company scheme details
• ‘Plain English’ statement of the scheme’s likely worth
• Ability to test ‘what if’ scenarios
• Ability to aggregate personal pensions
• Contact an independent financial adviser

HR features

• Easy set-up of both defined contribution and defined benefit schemes
• Retain editorial control
• Easy definition of rules based on length of service, age etc (if applicable)
• Easy configuration of forecasting tool (or the option not to use it)
• Powerful HR reporting facility – powered by Crystal Reports
• Instant access to each employee’s information
• Streamlined management of joiners and leavers
• Streamlined integration with payroll and HR systems
• Print out ‘scheme booklet(s)’