With an increase in life expectancy and the cost of living, it’s more important than ever for people to be thinking about their future and how they’ll fund their retirement. The Government has introduced auto enrolment policies aimed at helping people build up a pot for the future.

Despite knowing how important it is to save, it can be difficult to think seriously about something that seems so far off. This is why Teachers’ Pensions works with over 10,000 employers involved in the administration of the Scheme to help their employees engage with their pension.

Our online member portal, ‘My Pension Online’ (MPO), has been designed to provide members with as much information as possible to help them to become involved with their pension. With Benefit Statements and personalised calculators, MPO gives members everything they need to see the value of staying with the Scheme and planning for their future.

We’ve worked hard with employers over the last few years to encourage members to get onto My Pension Online. The more members who connect with the Scheme online, the bigger role Teachers’ Pensions can play in making sure members have everything they need to make an informed decision.

Our partnership with employers led us to creating a monthly My Pension Online report for employers. This allows them to see which of their employees doesn’t have an MPO account. We also provide resources for employers to use in their establishments to show employees how simple it is to register for an account and engage with their pension.

This report has been a successful collaboration between Teachers’ Pensions and employers and there’s been a continued increase in the number of new accounts since the report started.

Co-operative working has also ensured that employers will transition to using Monthly Data Collection by April 2018. Submitting data on a monthly rather than annual basis allows members to view their regularly updated pension information and to check for any discrepancies. It will help members see the benefit of their pension in real time and increase awareness of their pension and what it can provide them at retirement.

Teachers’ Pensions is working hard to engage our members with their pension. We understand the importance of planning for the future. That’s why we’re so passionate about working with teaching employers to make sure our members get the most out of their pension.