New Retirement Living Standards Awards opens for applications

The Pensions and Lifetime Savings Association (PLSA) has launched a new series of awards to recognise excellence in adopting the Retirement Living Standards for member communications.

Launched in October 2019, the Retirement Living Standards are designed to help savers picture the lifestyle they want in retirement and understand the costs. Based on independent research with the UK public by Loughborough University, the standards cover a range of goods and services that are relevant for the majority of people across three different levels – minimum, moderate and comfortable.

With the Retirement Living Standards are accessible to more than 14 million savers through more than 50 different organisations, the PLSA has devised the awards to recognise adopters who have incorporated the standards into their communications in novel and effective ways.

The awards are now open to applicants from pension schemes, providers, consultants, public bodies and other stakeholders who have adopted the standards.

Entries will be judged in at least the following categories, with awards for each:

• Saver engagement – for the entry which is judged to have communicated the standards most effectively through aspects such as ease of use, simplicity of message, visual representation, personalisation and demonstrated comprehension.
• FinTech/Innovation – for the entry which most impresses the judges for its use of technology to integrate the standards into tools, calculators or personalise income targets.
• Exceptional smaller scheme - recognising the organisation which impresses the judges most when punching above its weight.

Applicants should complete this short form and provide any supporting material to showcase to the judges that they have an award winning approach.

Entries are open until Friday 3rd September 2021.

The winners will be announced at the PLSA’s Annual Conference on 12-14 October.