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Workshop content

As you are probably very new to pensions you will not be familiar with all the terms that are used. Lots of organisations have produced glossaries to help you.

Here is one
produced by: 		  TPAS logo     and another by:   TPR logo

Why not spend a little time before you come to the workshop to find out what the following terms mean:

  • Annuity
  • Automatic enrolment
  • Commutation factor
  • Open Market Option (OMO)
  • Pensions Credit
  • Preserved Pension

To give you a "heads up" on the topics we plan to cover we begin the workshop by discussing why people should plan and save for their retirement and what issues they need to consider.

There are three main pension systems in the UK: State, Employer and Personal pensions. We explore the key principles of each and discuss some of the key facts we think you should know. We also look at how pension schemes are financed and who carries the financial risks. Frequently pension savings are an employee's greatest asset, apart from their home, so it's important you know a little bit about the organisations that monitor pension schemes and where you and employees can go to get more information.

After this workshop you will be able to

  • List the main reasons why pension schemes exist in the UK and identify at least 10 issues employees need to consider when planning and saving for their retirement.
  • Explain key facts about the three main pension systems in the UK and use these to make general comparisons between systems.
  • Describe the characteristics and varieties of Defined Benefit and Defined Contribution pension schemes, and how they differ.
  • Identify how UK pension schemes are financed.
  • Name the main organisations that monitor UK pension schemes and identify each organisation’s role.
  • Identify the boundaries of information/advice that can be given without giving investment advice.
  • Select details of the organisations and resources which they can use in the future to find out more about State, Employer and Personal pensions.
  • Financial advice


TPR FSA Guide for Employers


One important point to note is that people who give advice to another person or organisation about financial or investment matters must be authorised. So if after attending this workshop you will be helping others with their finances or investments it's important you know what the rules are. Here's a useful guide.