Buck Bond Group

Better prepare your DB members for retirement

Engagement has always been a challenge for defined benefit (DB) schemes, with many members failing to plan for retirement or leaving financial planning too late. Robust financial planning tools can help members decide on the best course of action to support their future retirement.

Are you confident your DB scheme members have the information they need to make the right financial decisions about their pension?

Actionable insights drive informed retirement decisions

Our flexible retirement options guidance tool educates DB members and simplifies the possible options available to them as they near retirement. The tool is available to members over 55 years who are interested in retiring, or potentially taking their benefits elsewhere.

To increase engagement and retirement readiness across your pension membership, the flexible retirement options guidance tool helps trustees to:

  • Better prepare their members for both near-term and more distant retirements
  • Communicate potential options to members based on their personalised data
  • Provide unbiased information that can assist members in understanding their options at retirement

In many cases, members remain within the scheme and take their scheme benefits with a greater level of understanding and appreciation. And for those who decide to investigate a transfer, they do so from a more informed position.

What sets us apart

Personalised

As retirement approaches, available options are presented using the member’s own data, making each scenario meaningful and enabling informed decisions to be made.

Responsive

Using each member’s personal data, our summaries confirm where they stand from a retirement readiness perspective, and help educate what their potential options are.

Actively encourages engagement

Our digital solution is designed to involve members and incorporates small behavioural ‘nudges’ to encourage interaction with their pension.

Flexible

Thanks to the digital nature of the tool, it works both at the day-to-day level and in conjunction with any specific exercises which schemes may aim to undertake.

We’re here to help you

Flexible retirement options in action: Multinational chemical company

Previous provider wasn’t proactive enough in delivering new digital solutions.

Appointed Buck to launch enhanced technology proposition, including streamlined administration retirement process.

Helped increase engagement, supporting members as they prepare for retirement.

Contact us to learn more about flexible retirement options

Resources

For additional insights on our expertise in supporting your members to better prepare for their retirement, check out our latest thinking.

For access to our latest pension news and analysis, register here.

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