TPT Retirement Solutions named winner of this year's Retirement Living Standards Awards | PLSA
TPT Retirement Solutions named winner of this year's Retirement Living Standards Awards

TPT Retirement Solutions named winner of this year's Retirement Living Standards Awards

20 October 2023

The winner and two highly commended organisations have been named at this year’s PLSA annual conference for their Retirement Living Standards (RLS) Awards.

The winner, TPT Retirement Solutions, has truly integrated Retirement Living Standards (RLS) into the fabric of their members' journey. Through innovative tools, engaging video quizzes, savings aids, webinars, newsletters, and personalised video benefits, they have demonstrated a discernible positive impact, receiving excellent feedback from members.

The two highly commended organisations are Standard Life and Penfold.

We highly commended Penfold, for their app integration, which includes the functionality for savers to set up a savings goal using the lifestyle categories as a guide.

We also highly commended the 2022 Fin Tech RLS award winners, Standard Life, for the latest developments to their highly impressive client analytics platform, which incorporates PLSA data to surface insights to users.

Phillip Smith, DC Director at TPT Retirement Solutions, said; "Helping our members understand their pension savings options in a simple easy to understand way is a key objective for TPT. Working with the PLSA Retirement Living Standards enables us to provide tools that use simple rules of thumb that members can understand and engage with. We're delighted that the PLSA has recognised our work and we look forward to continuing to integrate the standards as we continue to invest in our digital member experience."

Julian Mund, Chief Executive, PLSA, said: "We take immense pride in our Retirement Living Standards, the accepted industry benchmark. The standards outline three distinct retirement baskets, providing savers with unique insight into their possible financial future and what is needed to achieve the retirement they are aiming for.

“This year marks the third consecutive celebration of outstanding adoption within the industry, stretching across pension schemes and providers. The winner and highly commended organisations have showed true dedication to ensure the standards are used for the benefit of the saver.

“We will continue to work with the Friends of the Retirement Living Standards and all our supporters and adopters, who help us to reach over 35 million savers with the RLS.”

The PLSA’s Retirement Living Standards are a practical tool used to empower savers to picture their retirement and engage more with their retirement planning needs.

The RLS use three levels of expenditure to help savers understand how much money they will need to live the lifestyle they want in retirement.

We update the standards on a regular basis, carrying out further research with people across the country to ensure that they remain current, incorporate any changes in the costs of goods and services, and reflect any changes in people’s expectations for retirement. 


TPT Retirement Solutions

TPT Retirement Solutions has 75 years’ experience and has grown its assets under management to £10.3bn in that time. Today they provide workplace pensions, both DB and DC master trusts, to 2,600 employers and over 425,000 members across various sectors.

Mark Smith, Head of Media Relations
020 7601 1726 | [email protected]

Cali Sullivan, PR Manager
020 7601 1761 | [email protected]

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