Telling employees about contribution increases

By law, the minimum amount that must be paid into an employee’s workplace pension is going up on 6 April 2019. Many employers are likely to communicate this change to their employees, as the increase could have a significant impact on their retirement savings.

Create your own campaign

Here at The People’s Pension, we offer you more than the average workplace pension provider. Especially because we know that employees really do value being a member of a workplace pension scheme1.

To help you inform staff of the changes to contributions, we’ve compiled some useful downloads in our communications toolkit as well as a suggested campaign timeline.

By creating your own mini campaign, you’ll raise awareness of the pension scheme you’ve set up for your employees, so that the extra money you pay in is valued – after all, some may not remember you’re paying into their pension pot.

One-click downloads available below include our popular letter templates, illustrative videos, easy to use payslip messaging and posters.

1Source: Employee and employer attitudes to workplace pensions – The People’s Pension and YouGuv survey

Why should you do this?

This is a great idea as it’ll help to minimise the number of queries you may get from employees when the increase in contributions happen. It also highlights that you’re paying into your employee’s retirement savings – which many of them may be unaware of.

Did you know?

90% of employers communicated the April 2018 contribution increases to employees

Source: TPP Customer Satisfaction Survey September 2018

Don’t just take our word for it…

“As a small organisation we are always really busy and having this available made my life easy.”

Chief Executive – Bow Housing Society Limited

Raise workplace pension awareness

Start by reminding employees how important it is to save as much as they can, as early as they can, so they can enjoy a more comfortable retirement. Most people will need more than the £164.353 a week expected from the State Pension. Download and share this material with your employees:

Poster: 5 Reasons To Save

Payslip messaging: Raising awareness about the minimum contribution increases

“I used the payslip messages…and will definitely use it again in April when the contributions are due to increase again”

Payroll Administrator – Lumen Electrical Ltd

3The State Pension amount of £164.35 a week is based on someone reaching State Pension age on or after 6 April 2016 with a full National Insurance record. Find out more about different types of pension

Time to tell employees the good news

As employees also receive money from the government on their own contributions, the increase means that amount will also be going up. With 6 April fast approaching, we’ve drafted some templates to make it easier for you to tell your employees about the changes, as well as a handy video and a poster explaining the good news.

March

Template letters and emails: Contribution increase template letters and emails

Poster: Good news about your pension contributions

Newsletter: Minimum contributions have gone up

Video: ‘How is my workplace pension changing in 2019?’

Payslip messaging: Raising awareness about the minimum contribution increases

“Using the communications toolkit meant that sending out letters to our employees was quick and easy”

Assistant Manager, TPS Group

“They were really straightforward to find which is something I love about The People’s Pension.”

Assistant Manager – TPS Group

Ensure employees don’t miss out on money

The contributions go up this month and that means employees will be getting even more out of their workplace pension. You can use our poster to explain how they are receiving extra ‘free’ money.

April

Poster: Don’t miss out on your ‘free’ money!

Payslip messaging: Raising awareness about the minimum contribution increases

“The communications are written in plain English… sending them out to the staff took no time at all!”

Chief Executive – Bow Housing Society Limited


Employees are responsible for their retirement savings

Remind employees they’ll need to stay on top of their pension to enjoy a more comfortable retirement. Use the poster and video below to encourage them to set up an Online Account, where they’ll be able to keep track of their pension savings.

May

Poster: Your future is in your hands

Video: Setting up an Online Account

Payslip messaging: Generic versions

“easy to use and I will definitely use it again”

Payroll Administrator – Lumen Electrical Ltd

Want to run other workplace campaigns?

It couldn’t be easier to run your own workplace campaign – your employees will thank you for it!

You can help your employees with things like:

  • growing their savings
  • understanding and managing their pension
  • retirement planning

Use our communications toolkit

Our communications toolkit has even more handy material to share with your employees…