Help employees turbo charge their retirement

Many of us might assume that retirement is a given – we work our whole adult lives, with dreams of a comfortable retirement as a reward.

But the reality is that if we’re not paying attention to how much we’re saving into a pension, it’s unlikely we’ll be able to have the retirement we want. And it may even mean we have to keep working for longer.

And with our research showing that only 36%* of people are confident they can afford to retire – it’s important they act now.

We’ve put together some top tips that can be shared with employees to help them take control of their futures.

1. Track down those lost pensions.

If you’ve had several jobs over the course of your career, then the chances are you’ve lost track of a pension along the way. But over time, even the smallest of pensions can grow and you could be losing out on a pension worth thousands. If you think this is the case, then contact the Government’s Pension Tracing Service. All you need is either the name of your employer or pension provider and they can give you contact details so you can track it down.

2. You might want to consolidate.

Once you’ve tracked down your pensions, you might want to consolidate them. Having an overarching view means less admin and saved time. It can give you a proper sense of what you have and help you make more informed retirement choices. Because if you had a couple of tiny pots, you might be tempted to take them as cash and spend them. If you have one larger pot, you’ll be less likely to do this. However, be careful before you consolidate. Make sure you aren’t incurring expensive exit fees on older pots. You may also be missing out on valuable benefits like guaranteed annuity rates.

3. Can you boost your contribution?

Online pension calculators can show you the benefit of paying a bit extra into your pot. Over time, even small extra contributions can really add up. It can be a good idea to revisit your contributions every time you get a new job or a pay rise. These calculators also give you a general sense of what kind of income you might get by the time you retire. And it might seem scary if the predicted income isn’t enough, but the key is you’ve given yourself time to do something about it.

Try our Pension Calculator

4. What can your employer do?

Many employers contribute at the auto-enrolment minimum, but there are some who will increase their contributions if you increase yours. This is known as an employer match, and it can make a big difference. So it’s well worth checking to see if this is available.

5. Are you getting all you can from the state pension?

Gaps in your National Insurance record could mean you get less state pension than you thought. Take a look at your state pension forecast and if you do have gaps you can put a plan in place to fill them. People often have gaps for periods of time when they have been out of the workforce or living abroad. If you qualified for a benefit during one of these gap periods, then check to see if you are able to backdate a claim. Many benefits – i.e. Child Benefit – come with automatic National Insurance credits so if you can put in a successful claim, you can plug gaps for free.

Other options are to pay for voluntary National Insurance contributions. These can be a very cost-effective way of plugging gaps. However, before you hand over money double check that you will benefit, as there may be some cases where you won’t – for instance, if you were contracted out of the state second pension.

This article is not personal advice. If you are unsure of a course of action, please ask about advice. Keep in mind that pensions can’t normally be accessed until 55 (57 from 2028). Pension and tax rules can change, and benefits depend on personal circumstances.

We offer a workplace savings platform that caters for employees at every life stage. This includes easy access to a Group SIPP and payroll-enabled ISA and Fund and Share Accounts, all fully supported by our tailored financial wellbeing programmes. We also offer Active Savings (cash deposits), a Lifetime ISA and Junior ISAs, all accessed via our user-friendly app.

*HL Opinium survey, April 2025. 1543 respondents.

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