Helping people prepare properly for retirement scoops award for Capita Employee Solutions
Getting people to think about their future financial wellbeing up to a decade before they retire has proved to be an award-winning approach for Capita.
Our Countdown to Retirement programme, which helps pension scheme members to plan and save properly for retirement, has been made even more effective with the addition of digital and mobile options.
And it has scooped the At-retirement Solutions Provider award at this year’s Pensions Age Awards.
The Awards ceremony was held at one of London’s top hotels – the London Marriott Hotel in Grosvenor Square – last month and was attended by hundreds of people from the pensions industry.
Capita Employee Solutions was one of four companies shortlisted for the award for best at-retirement solutions provider, and beat Legal & General, Target Professional Services and WEALTH at work to the accolade.
Pensions Age said it had chosen Capita as the winner because it had shown “innovation and
dedication in providing the best value to its customers, while making the retirement
process as clear and beneficial as possible”.
It added: “The award winner was applauded by the judges for its clear understanding of the needs of the market in this space, demonstrating that it knew what its members needed as they transitioned into retirement. A much-deserved win for Capita, who have merited the congratulations from across the pensions industry.
“Capita also impressed the judges with its innovation in this sector, including its Digital Countdown to Retirement programme. The service allows workers to engage with their pensions, helping them understand the decisions that they have to make and giving them the possibility of revisiting and refreshing training.”
The multi-media Countdown to Retirement programme begins seven to ten years before people retire, when they learn about a range of topics including income options and sources, investments, wellbeing and financial targets. Then, three to five years before taking benefits, they go through a more detailed stage and learn about additional areas such as inheritance tax, wellbeing and debt.
The third stage takes place when pension scheme members start receiving their benefits, and it provides them with advice or the option to buy an annuity or implement a drawdown plan.
The digital Countdown to Retirement portal aims to nudge users into action and help them make better-informed decisions. PensionMobile is aimed at employees who don’t have the time to attend face-to-face meetings or access the online programme, and it offers them support and guidance over the phone.
Capita is also a finalist in four categories at the UK Pensions Awards (Actuarial/Pensions Consultancy, DC master trust, Pensions Communication Initiative and Retirement Innovation) and has been shortlisted in the Best Financial Wellbeing Strategy: Large Employer and Best Employee Engagement Strategy categories (in partnership with Sky) at the Employee Benefits Awards.
The UK Pensions Awards are due to be held in May and the Employee Benefits Awards in June.