Good news for savers. The government are running new campaigns to promote their pension services over the coming months.
First, the state pension will be running a campaign to help people understand a new state pension that is to be introduced from April 2016. The new system aims to make it simpler, and thereby help people plan for their retirement.
The state pension can make a big difference to your retirement income, so don’t miss out.
Next, a new campaign to promote automatic enrolment will be launched. Automatic enrolment is the new system which makes it a legal requirement for all employers to enrol their eligible employees in a workplace pension. Aviva is a leading provider of workplace pensions in the UK.
The great news is that 59% of all employees are now active members of a pension scheme, compared with just 47% in 2012.
The new campaign will be fronted by former Dragon’s Den star and entrepreneur Theo Paphitis. The TV advert can be seen here.
Aviva has also produced a short video to explain auto-enrolment. Saving in a workplace pension benefits from an employer contribution as well as benefits from the state, in the form of tax relief. It can be a great way to save for retirement.
Finally, there will be nationwide marketing campaign to promote the new information service called Pension Wise.
Pension Wise was launched in April 2015 to help people understand the new ways in which savers aged 55 and more can access their private pension savings. This free information service is now available to all savers aged 50 and above.
You can see the current Pension Wise TV advert here.
Aviva refers to Pension Wise throughout the website, and has also produced this short video to explain the new rules. Make the most of your new freedoms!