Engaging employees with workplace pension transfers
We aim to take the hard work out of pension transfers so you can focus on helping your clients. That's why our transfer process has been designed to make it easy for you and your clients' employees.
We'll give your clients access to a transfer toolkit, which contains a range of engagement materials, to share with their employees to let them know their pension provider is changing. These resources will guide employees through what's going to happen and let them know they have the option to transfer their existing pension savings.
We'll send employees a transfer pack by email or post, with all the information they need to help them decide if transferring their pension savings is right for them. It explains what they need to do if they want to go ahead.
Want to know more? Watch our short animation for employers.
Transcript for video
Our Royal London lead transfer process is simple, easy to use, and it's part of our tried and tested scheme setup process. We'll lead and manage the end to end process for you, and provide content to help you engage your workforce and raise awareness about the transfer.
Our toolkit will help you share the transfer news with your employees and what they can expect. Understanding the transfer may help them engage more with their workplace pension, and find out if they're on track for the retirement they want. The Toolkit contains useful awareness material, including e-mail template, poster, and banners. You can choose and download any item from the Toolkit to use and share. We'll send your employees a transfer pack, explaining more about transferring their pension savings and the things they need to think about to help them decide if a transfer is right for them.
Our dedicated transfer team be on hand to answer any questions employees may have about the transfer. They won't offer advice, but they'll issue clear communications to help them decide. We'll also let the members know that the transfer window has closed. Transferring might not be suitable for everyone, but if they do decide to transfer, they can tell us via our mobile app, or they can return the form included in that transfer pack, we'll do the rest. We'll request the transfers from the existing scheme provider, give you regular updates along the way, and confirm once it's complete. You'll have peace of mind with our streamlined transfer process, letting you focus on the things that matter to you.
Visit our website, or speak to your financial advisor to find out more.
Supporting you throughout
Our dedicated team is on hand to help, from providing regular updates to letting you know the next steps.
If you're using our Royal London led pension transfer process we’ll work with you to make sure you’ve got all the transfer details needed and that it meets the compliance requirements. So you focus on what matters to you, whilst we take care of the rest.
Our workplace pension transfer options
You can decide how you want to run the transfers and we'll provide as much or as little support as you need. There are three options available.
Fully-advised transfer
This is an advised process that's provided by you and supported by us.
What you need to do:
- You'll have the right qualifications to provide transfer advice
- You'll help members decide if transferring is the right choice
- You'll make sure the transfer is compliant
- You'll be able to charge for your service.
Adviser-led pension transfer process
This process is non-advised. You'll lead on the transfer and we'll support you.
What you need to do:
- You’ll make sure the transfer is compliant
- You'll be able to charge for your services
- You’ll manage the process and keep your client up to date
- We’ll support you by providing sample transfer packs
- We’ll request the transfers from the previous provider.
Royal London led pension transfer process
This is also a non-advised transfer process that we lead on with your support.
What we'll do:
- We'll manage the full transfer process
- We'll make sure the transfer is compliant
- We'll carry out checks to make sure the scheme is suitable
- We'll issue clear communications to help members make a decision
- We'll keep you and your client updated with what’s happening.
You can find out more about our options by downloading our detailed transfer guide.
How the Royal London led transfer process works
Get the details
We'll ask you to collect certain information about the previous scheme to make sure the members don’t lose any valuable benefits.
Engage your employees
We'll help your clients raise awareness among their scheme members of the option to transfer their pension savings.
Make the offer
Once we’ve received a member's first contribution, and we're ready to make an offer, we'll send them packs to help them make a decision.
Request the transfers
Once our dedicated transfer team receive the member’s transfer form (and trustee authorisation, if required) they’ll take it from there.
Complete the transfers
Our dedicated transfer team will make sure make everything is completed and tie up any loose ends.