Supporting workplace pension scheme members and individual pension clients
There’s a growing responsibility for everyone to save for later life. And although retirement choices can often feel complex, many of our customers don’t have access to financial guidance or advice.
Working together we can aim to close this gap.
We've introduced our financial wellbeing service to complement your services and point customers towards financial advice.
Demonstrate the benefits of the service
Watch our video to find out more about the benefits of our financial wellbeing service and how it can help employees and individual pension clients make informed and confident decisions with their money.
Workplace pension clients can introduce the service to their employees with our pre-approved email copy (.docx), which is ready to send out.
You can also download our customer leaflet, which explains the benefits of our service in a clear way.
Financial wellbeing service – transcript
Take control of your finances with your financial wellbeing service
It can be difficult to know when and how you should spend and save your money. Our financial wellbeing service is designed to help you with all money-related matters by providing engaging and personalised guidance that's most relevant to you and your financial needs.
Whether you need support with reducing your bills, guidance on building your savings or where you should start with buying your first home, our financial wellbeing service is there to lend a helping hand.
It's easy to get started, simply access the service by logging in to your Royal London online service account, if it’s your first login you just need to register on the Royal London website.
Or head to the tools section of the Royal London mobile app. If you're not registered yet, you'll just need your plan number to hand.
The first time you log in you'll need to complete the financial health check, an interactive chat that helps to build a holistic picture of your finances. Simply answer a series of multiple choice questions about your finances - including your spending, borrowing, and saving and we'll calculate your financial wellbeing score.
Based on your answers and score the service creates a personalised dashboard with a range of tailored topics to help you better understand your finances. You'll be presented with the most relevant topics for your personal circumstances, each topic is then broken into easily manageable chunks so you can read at your own pace.
So, what can you do on the service? You can read engaging articles and guides and watch videos) on the topics that matter to you, including planning for retirement, building up your savings and managing debt.
You'll also have access to a number of interactive tools, like our retirement options calculator so you can visualise what life might look like when you reach retirement and our free benefits calculator, which checks over 30 different benefits available in the UK to see if you're entitled to any of the billions of pounds of government benefits that go unclaimed each year.
The service is designed around you and your needs, so if your circumstances change you can take the financial health check again to update your score and evolve your dashboard and tasks to improve your ongoing financial future.
Log in to online service or the Royal London mobile app to access your financial wellbeing service today and start to take control of your finances.
Financial wellbeing service at a glance
No extra cost
Financial guidance available through our mobile app at no extra cost.
Personalised
A personalised experience that shows relevant guides and content.
Builds confidence
Supports employees and individual pension clients with financial knowledge and confidence.
Provides value
Adds value to your workplace client's benefits package.
Attracts clients
Helps drive opportunities and attract new business.
What you need to know
- Employees and individual pension clients will complete a financial health check to build a picture of their financial wellbeing
- They'll get a financial health check score and personal dashboard that flags areas of strength and improvement
- The dashboard also contains content that can help with improving financial health, with such topics as savings, debt and pensions
- Employees and individual pension clients can improve their own financial understanding with a suite of relevant guides, infographics, videos and interactive tools.
Benefits of the financial wellbeing service
-
Benefits for customers
-
Benefits for employers
-
Benefits for you