53% of schemes first contact members about their options within a year of retirement!

Pensions Age - 53% of schemes first contact members about their options within a year of retirement!

In the news! Our pension freedoms research has been featured by Pensions Age!

So here is a little snippet... You can read the full article HERE.

Over half, 53 per cent, of pension schemes leave it to the point of retirement, or within a year, before first contacting members about their retirement options, new research has found.

Despite leaving it late, a survey by Lemonade Reward, of 60 companies with 3.6 million members, found that 90 per cent of schemes do provide support for members, but few rely on in-house tools.

Commenting on the research, Lemonade Reward managing partner David Pugh said: “Organisations clearly want the best outcomes for members, but are struggling with the tools they’re using and their communication timing. Our research shows it’s important not to rely on a single information source for the answers and the sooner you open dialogue with members, the better they understand the options.”

Download the research HERE !