Retirement Guidance
Structured retirement support that puts members first
Our Retirement Guidance Service provides clear and structured support for members
Retirement Guidance
Structured retirement support that puts members first
Our Retirement Guidance Service provides clear and structured support for members
Supporting members as they approach retirement has never been more important
Decisions at this stage are often complex, highly consequential and in some cases, irreversible. Alongside this, the Pension Schemes Act forms part of a broader regulatory focus on governance, transparency and member outcomes, including how members are supported at retirement. While signposting remains important, it is increasingly recognised that this alone may not be sufficient. Members increasingly need structured, one-to-one guidance that helps them understand their options, key risks and potential next steps.
WEALTH at work’s Retirement Guidance Service has been designed to meet this need. It provides a consistent, well governed framework for delivering retirement guidance at scale, supporting pension scheme members while enabling employers and trustees to play an active and positive role in supporting members at this important life stage. It draws on our experience of providing guidance to pension scheme members for many years.
An active choice
The new ‘guided duty’ legislation means defined contribution schemes are increasingly focussed on how members access their pension savings.
This includes providing options for a default pension benefit solution; whether that is access to a regular income either directly from the existing pension scheme or through another provider.
The default still requires an active choice by the member which makes personalised retirement guidance increasingly important.
A practical solution for trustees and employers
Our Retirement Guidance service will deliver guidance in a way that is both effective for members and robust from a governance perspective. It is:
- Focused on helping members understand their options and make informed decisions
- Scalable and accessible, suitable for large and diverse member populations
- Consistent and well governed, delivered through a structured framework supporting trustee oversight and assurance
- Impartial, with a clear separation from regulated investment advice
Through one-to-one conversations, supported by digital tools and a clearly written retirement guidance report, members are helped to make sense of their options and feel more confident about the decisions ahead.
What this means for members
For members, personalised guidance at retirement provides clarity at a time that can otherwise feel overwhelming. The service helps members:
- Understand the retirement options available to them
- See how their pensions and household savings can work together
- Consider retirement income needs and lifestyle expectations
- Recognise key risks such as tax, inflation and longevity
- Feel better informed and more confident about making decisions
A structured, end‑to‑end member journey
Our Retirement Guidance Service provides clear and structured support for members approaching retirement or accessing their pension scheme, from initial engagement through to follow‑up support.
Members can access an online portal called the Hub, complete a pre‑retirement questionnaire, have a personalised retirement guidance call, receive a personalised retirement guidance report setting out all their options, and ongoing guidance and educational resources.
The service includes robust reporting, so oversight is in place for trustees and employers.
The Hub
Through the Hub, members book a retirement guidance call at a time that suits them and complete a secure pre‑call questionnaire. After their guidance call, they can return to the Hub for further information and ongoing support.
One-to-one guidance call
Each member has an in-depth guidance call with a personal financial coach, delivered by telephone or video.
Our coach helps the member review their specific pension scheme options and defaults. They’ll clarify scheme‑specific and general retirement options, explore income requirements and lifestyle goals, consider key risks such as tax and inflation, clarify their attitude to risk, and identify appropriate next steps and sources of further support.
Calls can include a spouse or partner and are recorded for quality assurance purposes.
The Retirement Guidance Report
Following the guidance call, members receive a Retirement Guidance Report summarising their circumstances and the key points discussed.
The interactive report highlights relevant retirement options and considerations, summarising all the assets a member can use to support their retirement, outlines potential next steps and signposts further support available through the Hub. Where appropriate, it may reflect discussions around reviewing existing pension arrangements or exploring additional support.
This provides members with a clear written record of their personal guidance, while giving trustees and employers confidence that appropriate support has been delivered.
Ongoing guidance and support
Support does not need to be a one‑off interaction. Members can continue to access guidance and educational resources through the Hub, alongside a dedicated guidance helpline for additional questions as they move closer to retirement and beyond. This ongoing access helps reinforce understanding and supports better long‑term outcomes.
Supporting understanding and signposting next steps
The focus of the Retirement Guidance Service is on helping members make informed decisions to feel more confident about their future.
For some members, guidance provides reassurance and clarity. For others, it highlights actions to explore further. Any onward support is always optional and member‑led. This may include access to Investment Advice, available at the member’s request and where appropriate.
Designed to support confidence and compliance
By providing a clearly defined framework, WEALTH at work helps schemes demonstrate that appropriate support is in place at retirement.
Trustees benefit from strong governance, oversight and reporting, while employers gain a practical and credible way to support employees through a significant life transition -ensuring retirement guidance is delivered as a consistent, well‑managed service.
