Isio has received official recognition as a Living Pension employer ahead of the first anniversary of the initiative’s launch.
Isio is the first pensions consultancy to achieve this accreditation. The Living Pension, introduced in March 2023, serves as an optional savings goal that businesses can set to help employees accumulate a pension fund. Isio was involved in the creation of this minimum standard, first by serving on the steering group.
Isio found that many employees were not saving at levels high enough to generate a decent retirement income when working with a company to evaluate the current contribution structure during the Living Pension pilot. In order to guarantee that all employees could save at a more suitable level within the business’s budget, Isio collaborated with the firm to reroute spending towards lower incomes.
The Living Pension accreditation is in line with Isio’s mission to improve results for its clients, employees, and the general public. Isio says it is still working with clients, advising companies on how to provide a complete approach to benefits and rewards, including incorporating the Living Pension into their more extensive packages.
Isio chief executive Andrew Coles says: “At Isio, a core purpose is to deliver financial confidence to create better outcomes for our people, clients and society. Championing the Living Pension standard does exactly that. We are passionate about ensuring that people can retire with an income that provides a better standard of living and have support to make informed choices alongside this. So we’re proud to be able to have external accreditation of for our own people and to support the wider initiative to encourage other employers to adopt the standard.”
Living Wage Foundation director Katherine Chapman says “We are delighted that Isio has signed up as a Living Pension employer. Isio has been a champion of the Living Pension since day one and continue to be integral to its success. They provided invaluable expertise during the development of the scheme and now assist their clients in implementing the standard and becoming Living Pension Employers.
“Over the last ten years the Living Wage campaign has grown in strength and numbers. Now paid by over 14,000 employers, it delivers essential pay rises to 460,000 workers every year. The Living Pension builds on this by encouraging employers like Isio to do more to help their workers build a pension pot that means they can live decent lives in retirement. The movement for a Living Pension is gathering pace, with over 30 employers now signed up.”
