From compliance to confidence: five ways to strengthen your workplace pension

How confident are your employees that their pension will give them the future they want?

For many, retirement still feels decades away, yet the steps they take today will shape their quality of life for years to come.

A workplace pension is more than just a compliance requirement – it’s one of the most powerful tools an employer can offer to help people build long-term security.

It’s also a central pillar of financial wellbeing. When employees feel confident about their retirement prospects, they’re less likely to be distracted by money worries.

This confidence can improve focus, engagement and productivity at work, making pensions not just a benefit, but a driver of organisational resilience.

This guide explores five practical ways to ensure your pension provision supports both long-term security and everyday financial wellbeing, delivering value for your people and your business.

1. Keep pensions visible and valued

Pensions often slip into the background for employees, overshadowed by immediate financial pressures such as mortgages, rent or everyday bills.

But when people understand their pension’s role in future security – and how it fits into their broader financial wellbeing – they’re more likely to engage with it.

Employees should be able to see their pension as a growing, accessible asset rather than an abstract number on a payslip.

Using plain, relatable language, alongside showing the real value of employer contributions as part of a total reward package, helps make this connection.

Digital portals and mobile apps can make it easier to check balances, model retirement scenarios and see the impact of increasing contributions.

Pairing these tools with ongoing conversations, from short updates in meetings to informal “ask the expert” drop-ins, keeps pensions relevant and part of employees’ overall wellbeing plan.

2. Give your scheme a regular check-up

Like any major investment, your pension scheme benefits from regular review. Charges can increase, governance processes can drift, and regulations inevitably evolve.

A structured “MOT” or health check ensures the scheme remains competitive, compliant and aligned with employee needs.

This process might uncover opportunities to lower management charges, update investment options or introduce salary sacrifice – a change that can reduce National Insurance costs for both employer and employee.

When these savings are reinvested in contributions, the scheme’s value grows and the employee’s sense of financial security strengthens.

A well-governed, cost-effective pension scheme is a foundation for financial wellbeing, giving employees confidence their retirement savings are being managed effectively.

3. Offer financial education that feels personal

Financial wellbeing is deeply personal. Employees have different goals, pressures and levels of confidence when it comes to managing money, and pensions are just one part of that picture.

Group sessions, webinars and on-demand videos can cover essentials such as reading a pension statement or exploring investment choices. But personalised support, such as one-to-one coaching, can address broader financial priorities, from consolidating old pensions to creating a household savings plan.

Modern financial wellbeing platforms can offer employees personalised tips, calculators and planning tools that help them make informed decisions, not just about retirement but about their whole financial journey.

By embedding pensions into this bigger wellbeing framework, they become a benefit employees interact with rather than overlook.

4. Align your pension with evolving priorities

A pension that met the needs of your workforce five years ago might not be as effective today. Employee demographics, investment markets and social expectations all change – and your scheme should adapt accordingly.

Reviewing investment options to ensure they suit different risk profiles, integrating sustainable or ethical choices or adding technology that allows employees to manage pensions alongside other savings products all make the scheme more relevant.

Linking pensions to wider benefits, such as life assurance or income protection, also reinforces their role in financial wellbeing.

When employees understand how these elements work together to protect their income and future, they’re better able to plan with confidence.
they’re better able to plan with confidence.

5. Track, measure and adapt

If you don’t measure engagement and outcomes, you can’t improve them.

Tracking how many employees contribute above the minimum, how often they use pension tools, and how many attend financial wellbeing sessions provides valuable insight.

Pair these metrics with anonymous feedback to identify gaps, whether it’s a lack of understanding, limited fund choice or a need for more tailored advice.

Fund performance monitoring is equally important. Ensuring your default fund, and any alternatives, deliver competitive returns and meets sustainability goals helps employees feel confident their pension is working hard for their future.

When employees trust their pension, it strengthens their overall sense of financial stability.

The business benefits of getting it right

An effective pension and financial wellbeing strategy is more than compliance. It can reduce absence linked to financial stress, improve focus and productivity and strengthen recruitment and retention.

By making pensions an integral part of your wellbeing approach, you invest in the resilience of your people and the long-term strength of your organisation.

Quick checklist for employers

Keep pensions front of mind through regular, relatable communication and easy access to information.
Schedule regular scheme reviews to maintain competitiveness, compliance and strong governance.
Provide varied financial education linked to wider wellbeing, from group sessions to personalised coaching.
Ensure your pension evolves with changing workforce priorities, investment trends and social expectations.
Monitor engagement levels and fund performance, adapting your strategy to improve outcomes.