For most members, their Fund pension plus the State Pension will provide good benefits. But they may need to save more while they’re working, if they want a higher level of comfort in life after work.

This toolkit can help you talk to employees about the importance of thinking about how much money they will need, to afford the level of comfort they hope for in retirement.

It will also help you explain the 2 arrangements for making Additional Voluntary Contributions (AVCs) in the British Transport Police Force Superannuation Fund (BTPFSF or the Fund):

• BRASS – for members of the 1970 Section, and
  

• AVC Extra – for members of the 2007 and CARE Sections. It is also open to members of the 1970 Section who already pay the maximum amount that you can pay into BRASS and still want to pay more.

To get started, visit pensionscommstoolkit.railpen.com then filter for ‘BTP’ and ‘Saving More’.

What does the Saving More toolkit cover?

The Saving More toolkit will help you explain to members of the Fund how saving even just a small amount more into their pension now, while they’re working, could make a very big difference to their future.

In brief, the main messages for members in the Saving More toolkit content are:

• Paying a small, regular extra amount into your pension savings when you can, while you’re working, could make all the difference later when you come to retire

• There are different AVC arrangements, depending on the Section of the Fund that you are in
  

• You could pay as little as £2 a week into AVCs, and you can change or stop your AVCs at any time
  

• Saving with AVCs will soon add up to more when you include tax relief (up to pension tax limits), National Insurance contribution savings and investment growth over the years
  

• The cost of retirement is increasing, so planning for later life and knowing how much money you will need in life after work is extremely important
  

• The State Pension and your main Fund pension alone may not be enough to provide for a comfortable retirement

   

  …plus much more!

How could I use the information in the Saving More toolkit?

You could use the toolkit to:

• Help your employees get an idea of how much they will need in retirement, using the Retirement Living Standards (RLS) which are explained in the toolkit, and the importance of planning ahead for retirement

• Explain how saving even a little bit more now, could make all of the difference later

• Explain the benefits of saving with AVCs, including that savings benefit from tax relief (up to pension tax limits), reduce National Insurance contributions and aim to achieve investment growth

• To answer any basic queries that employees may have about saving more into their Fund pension, and how AVCs work

  You can decide how to use the materials in this toolkit
  

  The toolkit includes content in a variety of formats, listed below, and you can decide how best to use it. For example, you might share this content on noticeboards in your offices, post an article on your intranet or send an email round to your colleagues to help them get to grips with saving more with AVCs.
  

  In the toolkit, we’ve also outlined the steps you may want to take if you decide to launch a Saving More campaign. You might choose to start the campaign to new starters, on the lead up to Pensions Awareness week in September, or following closely after salary increases, promotions or bonus payments.

What content is included in the Saving More toolkit?

Whether your employees are new starters, or approaching retirement and want to get the most out of their pension, there’s something for all members of the Fund who are still paying into their pension in this toolkit.

Your Saving More toolkit includes:

• A document to help you, as an employer, to get the most from this toolkit

• A campaign plan 

• Informative articles, with bespoke information for members in the 1970 and 2007 Section, and the CARE Section

• Email templates

• Handy infographics

• Factsheets to explain BRASS and AVC Extra, the AVC arrangements in the Fund

• Attention-grabbing posters

• A suite of social media posts and assets

• Web banners

• A short video

How can I access the toolkit content?

You can find simple instructions on how to use the pensions communications website and how to download the content on your pensions toolkits website.

Is there another pension topic we could cover? Tell us your thoughts!

If you’d like to see content on another pension topic, or if you have any feedback on the topics we’ve covered so far, we’d love to hear it.

If you’re using the toolkit content in a campaign or as individual assets, tell us what you’ve got planned and how your employees find it.

You can tell us your thoughts by emailing toolkitsupport@railpen.com or speak to your Client Relationship Manager.