ADVERTORIAL Navigating through Pensions – with confidence in the future Since 2012, employers of all sizes have had to offer and contribute to a workplace pension for their employees, and it’s for businesses to ultimately decide what type of plan, and which pension provider’s services, to offer. W ith over £300bn invested in employees’ DC retirement savings 1 , employers will want a return on that investment in the same way that they do when investing in equipment or buildings. Making careful choices around who is best placed to deliver the right services for scheme members is therefore critical. Paul Enderby Corporate Solutions Director Workplace DC Pensions Legal & General Investment Management C h o o s e w i s e ly, choose once A hasty decision from the outset, or failing to keep existing plans under review, can mean unplanned extra work at the least, and, in the worst case, problems for the future direction of a business. At L&G we’ve seen employers wanting to work with us after acting in haste and repenting at leisure. Rather than focusing on their business, they have had to devote unplanned time, budget and energy on pensions when, for example, their provider has left the market, or changing regulations have left their scheme no longer fit for purpose. Whilst a good benefit consultant can help businesses choose the right provider, in many cases decisions or recommendations are made purely on price. If no consideration is given to the financial strength of the provider, its commitment to the UK market, the quality of its administration or the effectiveness of its investments, both businesses and their people will ultimately lose out.