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Employee Retirement Planning Checklist

Employee Retirement Planning Checklist

Employee Retirement Planning Checklist (UK)

Only one in four people have a clear idea of how much they need for retirement. This means Employee retirement planning is becoming an increasingly important part of workplace financial wellbeing. 

With longer working lives, rising living costs and growing uncertainty around retirement income, UK employees are more aware than ever of the need for clear, structured retirement planning  yet many still feel unsure where to start.

This guide sets out a practical employee retirement planning checklist, broken down by age group, helping employees understand what they should be thinking about at each stage of their career.

It also outlines what employers can do to support effective retirement planning in the workplace.

Why Employee Retirement Planning Matters

Retirement planning is no longer something employees can leave until the final years of work. Many UK workers hold multiple pension pots, have limited visibility of their future retirement income, or rely heavily on the State Pension without fully understanding whether it will be sufficient.

Employee retirement planning plays a critical role in reducing financial stress and uncertainty. It can also improve employee engagement and productivity whilst supporting retention and long-term workforce planning

For employers, offering structured retirement planning support is increasingly seen as a core element of a strong financial wellbeing strategy.

Employees Aged 16–34 | Early Career Retirement Planning

Young UK workers (Gen Z/younger Millennials) show high, often optimistic, expectations for retirement but face significant, paradoxical challenges.

Younger workers are, on average, aiming to retire aged 59 with high incomes of around £46,000/year, but many have low or no pension savings and face high housing costs.

Despite optimism, the reality is many are underprepared. 48% of 16-34-year-olds expect to still be paying rent or a mortgage in retirement. Furthermore, many are anxious, with 26% feeling uncertain about having enough money.

What can younger workers do to get plan for retirement?

To get set for retirement, younger employees can take a number of steps including ensuring they’re enrolled in their workplace pension and understand auto-enrolment. They should also know how much they and their employer are contributing to their pension.

It would also help to learn the basics of retirement planning, including compound growth and the difference between workplace pensions, personal pensions and SIPPs.

If they have had a number of jobs already, keeping track of different pension pots can be helpful when planning for the future.

How can organisation help their younger employees plan for retirement?

Organisations with a younger workforce could help improve the financial wellbeing of their employees by explaining workplace pensions in clear, accessible language.

They could do this by offering early-career financial education sessions and making pension information easy to access and understand.

retirement planning for employees

Employees Aged 35–49 | Mid-Career Retirement Planning

Many mid-career UK workers are underprepared for retirement, with 64% feeling unprepared and 55% lacking a clear financial plan.

Over half (51%) of 35-49 year-olds fear they will never afford to retire. Significant numbers are flying blind with 37% of mid-life employees unaware of their total pension savings. 

What can mid-career workers do to get plan for retirement?

Mid-career or ‘millennial’ workers can begin by reviewing pension contribution levels regularly, even increasing contributions where affordable and checking pension fund choices and risk levels.

Consolidating old pension pots where appropriate could help with organisation, and considering additional retirement planning tools such as SIPPs, ISAs may bolster savings.

Lifestyle aspects of retirement should also be factored, such as hobbies, holidaying and day-to-day cost of living.  

What can organisations do to help their mid-career workers plan for retirement?

Mid-career workers make up over a quarter of the UK workforce, so it’s important that employers provide education on pension consolidation, long-term investing and retirement planning reviews.

Effective employee retirement planning at this stage helps prevent later shortfalls.

Retirement planning checklist

Employees Aged 50+ | Pre-Retirement Planning

While many workers aged 50+ hope to retire, less than half feel financially prepared to do so.

In the UK it is estimated that only about one million of the more than three million working people aged 60-69 feel prepared for retirement.

40% of working Baby Boomers feel prepared for retirement and almost half of early retirees found their finances took a hit, leading some to return to work.

With increasing life expectancy, many are forced to work beyond 65 to generate enough savings, with some experts suggesting 75 is the new 65.

What can employees aged 60+ do to be prepared for retirement?

Reviewing all pensions and retirement savings together is a great starting point. It also helps to understand retirement income options, including pension drawdown, annuities and lump sums.

They may also consider phased retirement or reduced working hours alongside reviewing their protection and estate planning arrangements.

How can organisations with employs aged 50+ can help them prepare for retirement?

Employers with a workforce approaching retirement age can offer targeted pre-retirement planning sessions which help employees understand retirement risks and decisions whilst reducing uncertainty through clear education and guidance.

They may also support flexible or phased retirement options. 

Retirement Transition Planning

Retiring in the UK requires mapping out income sources, checking State Pension age and consolidating private/workplace pensions.
 
Key factors include calculating retirement budget, understanding tax implications on withdrawals, managing debt, considering healthcare needs, and deciding on flexible, phased retirement options.
 
Creating a detailed budget to match lifestyle is also important as spending might change rather than just reduce. Evaluate whether to pay off debts, especially mortgages, with a lump sum before retiring. 

How can organisations help their employees when retiring?

UK employees can help colleagues prepare for retirement by fostering open, non-prescriptive conversations about future plans and encouraging them to seek high quality independent financial advice.

Providing social support, highlighting flexible working options, and signposting to pension tracing services also helps reduce anxiety and isolation.

Retiring doesn’t just require financial planning, lifestyle changes will happen too. Offering retirement lifestyle sessions can help employees prepare for both aspects of retirement.

Download the Employee Retirement Planning Checklist (PDF)

To support ongoing employee retirement planning, organisations can refer to our complimentary Employee Retirement Planning Checklist PDF with age-based retirement planning actions.

Free Retirement Planning Checklist

Ensure your employees – no matter their age or career stage – are planning for retirement. 

Supporting Employee Retirement Planning Through Education

Full-Day Employee Retirement Planning Workshop Delivered by Planned Future

Planned Future are workplace financial wellbeing education experts and our  Full-day Employee Retirement Planning Workshop is designed to support employees at every stage of their retirement planning journey.

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2026 Employee Financial Wellbeing Strategy

Planned Future are workplace wellbeing experts and our 2026 Employee Wellbeing Guide is designed to help you improve outcomes, increase awareness and unlock better performance across your workplace. What’s included:

  • 12-month roadmap with examples
  • How to provide on-demand information, guidance & signposting
  • Measurable data – what to track
  • Employee feedback opportunities
  • Plus much more
 
Complete the form for instant access to your 2026 Employee Financial Wellbeing Guide

Money Guide Service Terms and Conditions

Please read and accept the Terms & Conditions by completing the form at the end of the document. 

  1. INTRODUCTION

This agreement sets out the terms under which our Services are to be provided.

Planned Future Wellbeing Ltd is a leading provider of financial guidance and education. We aim to improve financial literacy for individuals whatever their financial circumstances or status and empower people to make informed, intelligent financial decisions. We offer you an initial 30-minute consultation at a fixed fee which is notified to you at the time of booking. Following our initial discussion, should you decide to book further appointments, the cost for our services is set out in the applicable Email Confirmation.

  1. DEFINITIONS

“Ad Hoc Support” means Services that are provided to you on an individual engagement basis.

“Email Confirmation” means an email exchange between you and us to confirm the Services to be provided by us to you.

“Initial Period” has the meaning given to it in clause 4.

“Ongoing Support” means Services that are provided to you on a subscription period basis.

“Planned Future”, “we”, “our” or “us” means Planned Future Wellbeing Ltd (company number 09367736).

“Privacy Policy” means Planned Future’s privacy policy which is set out on our website here: https://plannedfuture.co.uk/privacy-policy/.

“Renewal Period” has the meaning given to it in clause 4.

“Services” means the “Money Guide” financial guidance and education services as set out in clause 3 and as more particularly described in the Email Confirmation.

“You” and “your” means a client user of the Services.

  1. OUR SERVICE

We will provide financial guidance and education services to you. Financial guidance and education is the process of providing information, signposting, guidance and considering your options on a wide range of financial issues. Our service is impartial. We will not provide any personal recommendations and any investment and/or financial decision made by you will be yours. Where relevant, we will explain the different options available and outline the pros and cons of each. We can provide signposting information to you and provide help with using products and services that are available direct to consumers, but we do so without recommending such products or services. Where appropriate, we can at your request refer you to regulated financial advisers or legal or tax advisers . Every element of our Services is designed to empower you to make your own informed financial decisions, for example understanding your pension scheme options and considering whether you are on track to achieve your financial goals. Following your initial 30-minute consultation, we offer both Ad Hoc Support and Ongoing Support services.

  1. COMMENCEMENT aND TERM

This agreement shall commence on the date that you indicate agreement by email to an Email Confirmation and shall remain in force until terminated in accordance with the Cancellation section below.

Where you have subscribed to Ongoing Support, on the expiry of the initial subscription period (the “Initial Period”) for such Service, this agreement renews automatically for successive periods of such subscription period (each a “Renewal Period”) unless:

  • either party gives the other party not less than 30 days’ notice to terminate prior to the end of the Initial Period or Renewal Period (as applicable), in which case this agreement ends on the expiry of the Initial Period or the then-current Renewal Period (as applicable); or
  • unless terminated earlier in accordance with accordance with Cancellation Section
  1. FEES

Following your initial consultation, should you decide to book further appointments, the fees for our Services are set out in the Email Confirmation.

You must pay the fees for the Services to Planned Future within the period specified in the Email Confirmation or, if no such period is specified, within 7 days following the issue of an invoice by Planned Future.

You must pay the fees by bank transfer or by such other form of payment as agreed by the Planned Future (using such payment details as are notified by Planned Future to you from time to time).

If you do not pay any amount properly due to Planned Future under this agreement and/or an Email Confirmation, Planned Future may charge you interest on the overdue amount at the rate of 3% per annum above the Bank of England base rate from time to time (which interest will accrue daily until the date of actual payment and be compounded at the end of each calendar month).

Changes to fees

 

We may increase the fees for our Services from time to time by providing written notice to you. If you are an Ongoing Support client, where we do make changes to the fees, those changes will not affect you until your subscription is next due for renewal.

  1. ACCURACY OF INFORMATION

 

Any guidance and education provided by us will be based on the information that you give to us, so it is vital that you provide us with accurate information about your circumstances and objectives. If you provide inaccurate information to us, it could affect the suitability of the guidance and education given. You agree that we shall have no liability to you in the event that any information you provide to us is inaccurate or misleading.

  1. CANCELLATION

 

Ad Hoc Support

Where you are a user of Ad Hoc Support services, we may terminate this agreement by giving you at least 10 business days’ written notice. Where you are a user of Ad Hoc Support services, you may terminate this agreement at any time, without penalty. Notice of this termination must be given in writing and will take effect from the date of receipt. Termination is without prejudice to any Services already provided to you. You will be liable to pay for any Services provided to you prior to termination and any fees outstanding, if applicable.

 

Ongoing Support

Where you are a user of Ongoing Support services, you may terminate this agreement at any time by simply informing us in writing. However we reserve the right to charge you for any unused credits in relation to the remainder of the Initial Period or Renewal Period, whichever is applicable. Termination is without prejudice to any Services already provided to you. You will be liable to pay for any Services provided to you prior to termination and any fees outstanding, if applicable.

  1. DISCLAIMER OF LIABILITY

Financial guidance is not an activity that is regulated by the Financial Conduct Authority, and neither we nor our directors, officers, employees or agents are regulated by the Financial Conduct Authority. Planned Future will not offer any advice that is regulated or conduct any other regulated activity, including without limitation holistic advice, simplified advice, advising on which funds to invest in, which mortgage or insurance products to purchase or whether or not to transfer a pension. This means that it is your responsibility to ensure that the actions you take as a result of our financial guidance are right for you. You will not be covered by the government’s Financial Services Compensation Scheme with respect to our Services or by Planned Future if something goes wrong.

If you require regulated services, we may at your request notify a third party of your requirements and refer you to such third party individual or organisation that offers or provides regulated financial advice. If you have more complex needs such that the Services are not suitable, then we may help you find a suitable third party adviser for such needs.

We are not responsible for any guidance, advice or recommendations given to you by a third party adviser, including any third party financial advisers you are referred to by us. If you choose to speak to a third party adviser, you will have to agree to their terms and conditions which are independent of and separate to the terms of this agreement you have with us.

Except for any liability arising from (a) death or personal injury caused by negligence; or (b) fraud or fraudulent misrepresentation; or (c) any other matter for which it would be illegal or void at law for a party to limit or exclude its liability, we exclude and do not accept any liability to you in connection with any loss or damage caused, or alleged to have been caused, directly or indirectly, by the guidance, information, signposting  or options contained, considered or referenced in the Services.

You acknowledge that you take full responsibility for your finances and well-being, as well as the finances and well-being of your family and all financial decisions now or in the future. We are not responsible for any financial decisions or funding decisions that you make, or which you fail to make. You hereby waive any and all claims against us, our directors, officers, employees and agents in relation to the Services or the consequences that may occur as a result of following the guidance, information, signposting or options given under this agreement.

 

Complaints

If you are dissatisfied with the Services we have provided, you are entitled to make a complaint. We have a complaints procedure that is available on request. If you wish to register a complaint, please contact us:

 

In writing:                 John Chadwick

Planned Future Wellbeing Ltd

Suite 3, 3rd Floor, Refuge House

Watergate Row South

Chester, England, CH1 2LE

By phone:                 +44 (0) 344 9672567

By email:                   john@plannedfuture.com

Please be assured we treat all complaints seriously and we will endeavour to respond to a complaint within thirty (30) days of receipt of the complaint.  

  1. DATA PROTECTION

To provide the Services properly, we will need to collect information about your personal and financial circumstances. We will only use your personal information to deliver the Services. Full details of what information is collected by us and how it is used can be found in our Privacy Policy. By using the Services and/or agreeing to this agreement, you accept our practices regarding personal data and how it will be treated.

We will never share your data or information with any other third party except when it is directly required to provide the Services you have requested or where you have given us explicit permission in advance.

We shall use appropriate safeguards to maintain the privacy and security of your personal data, as further outlined in our Privacy Policy.

Under data protection laws, you have the following rights:

  • You can ask us for a copy of the personal information we hold about you. We will provide this free of charge, unless your request is repetitive or excessive, in which case we reserve the right to charge you a reasonable fee.
  • You can inform us of any changes to your personal information, or of any corrections you would like them to make to any of the personal information we hold about you.
  • In certain situations, you can ask us to erase the personal information we hold about you, or object to particular ways in which we are using your personal information. Please note that we may need to retain certain information for recordkeeping purposes, to complete any Services that have begun prior to your request, or for other purposes as required or permitted by applicable law.
  • Where we are using your personal information on the basis of your consent, you are entitled to withdraw that consent at any time.
  • Where we process your personal information based on legitimate interest or the public interest, you have the right to object at any time to that use of your personal information.

You may exercise any of the rights set out in the paragraph above by writing to us (by email or by post).  For security reasons we may ask for proof of your identity before disclosing information about you, or to you, via email or over the telephone.

  1. GENERAL

 

Amendments

 

From time to time it may be necessary to amend the terms set out in this agreement. If this is the case we will write to you with details of the changes at least thirty (30) days before the amended terms take effect. Your continued use of the Services shall be deemed to constitute its acceptance of any such revised terms.

 

Communicating with you

We may communicate with you by telephone, post, email or in person. All our communications with you will be in English.

 

Miscellaneous

If any provision or part-provision of this agreement is or becomes invalid, illegal or unenforceable, it will be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If that modification is not possible, the relevant provision or part-provision will be deemed deleted. Any modification or deletion under this clause does not affect the validity or enforceability of the rest of this agreement.

 

Jurisdiction

This agreement is governed by and should be interpreted in accordance with English law and you agree to submit to the non-exclusive jurisdiction of the English Courts.

 

Legal and accounting advice

Neither we nor our directors, officers, employees or agents are qualified to render legal or accounting advice or to prepare any legal or accounting documents. It is hereby understood and agreed that the onus is on you, the client, to refer to a solicitor or accountant any point of law or accountancy that may arise during the course of discussions with us.

  1. YOUR CONSENT

 

These are our standard client terms and conditions upon which we intend to rely. For your own benefit and protection, you should read these terms carefully before indicating your agreement to an Email Confirmation. If you do not understand any point, please ask for further information.

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