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At New Year, many people take time to reflect on their health, personal goals and finances. As we step into 2026, it’s the perfect moment to encourage members to strengthen their financial wellbeing by getting to grips with their pension. Small actions now could make a big difference to their future. Here are some simple ways you can help boost understanding and engagement.
Reflect on their pension progress- help them check their pension savings
For many members, the first step in making future plans could be as simple as finding out what they’ve saved already.
As our 2025 Retirement Voice report on how people feel about their finances showed, almost half (47%) think their pension savings are mainly influenced by factors outside their control.
So understanding how much is currently in their pension pot, along with what that could mean for the future, is a simple way for members to feel more in control of their finances. Those who are part of a Standard Life workplace scheme can access the information easily using our mobile app.
Reclaiming what’s theirs
Of course, the above doesn’t take into account any previous pensions the member may have contributed to, then forgotten about or lost access to. According to the Pensions Policy Institute, the average size of a lost pension pot for people aged between 55 and 75 is £13,620. It estimates the total number of missing pots to be 3.3 million, amounting to £31.1 billion worth of assets.
So, for those in the middle-to-late stages of their careers, or who have had several jobs, tracking down these lost funds could be very worthwhile. The Government’s Pension Tracing Service is one way for them to start the process. Or, if they’re members of a Standard Life scheme, they can use our Pension Tracing Finder, which is available in the Tools section of our mobile app. All they need to get started is the name of their previous employer.
Once they’ve tracked down any lost pots, they might want to consider making their pension easier to manage by combining them with their Standard Life plan. If this is the right choice for them (and it won’t be for everyone – sometimes transfers can mean losing money due to giving up benefits and guarantees on previous plans), they can also do this via the app.
Looking to the future – are they on track for the retirement they want?
Many members are naturally inclined to look to the future at this time of year. Our latest Retirement Voice report revealed that nearly three-quarters (73%) of people are concerned that retirement in the future will be more complex than it is now.
One way you can help members to find some clarity on their future is to guide them to work out how much money they’re going to need to have the retirement they want. You can do this for Standard Life workplace scheme members by pointing them towards the app, where they can use our Retirement Income Tool to find out.
Ready to help members take the next step?
We’ve created a suite of campaign resources designed to make it easy for employers to guide them through everything we’ve covered – from checking their savings and reclaiming lost pots to planning for the retirement they want. Click here for Ready to Go materials that can help members take practical steps towards their retirement resolutions.
To read more articles from Standard Life visit the content hub on Corporate Adviser – here.
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Remember, a pension plan is an investment. Its value can go down as well as up and could be worth less than what was paid in.
Phoenix Life Limited, trading as Standard Life, is registered in England and Wales (1016269) at 10 Brindleyplace, Birmingham, B1 2JB.
Phoenix Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
