The Trustees of the Experian Retirement Savings Plan continue to monitor the impact of Coronavirus on your retirement savings.

Our News Article on 1 April 2020 included:

• information about the impact of recent falls in investment markets,
• where to go for guidance about the impact of Coronavirus on your finances and savings, and
• how to view your retirement savings and update your nominated beneficiaries online (click here for full details).

In this update, we’re giving ERSP members access to a webcast on ‘Managing your finances during the Coronavirus crisis’, produced by ‘WEALTH at work’, our financial education partner.

Although this 15 minute webcast is not specific to the ERSP, it includes useful high-level generic guidance on the following areas, some of which may not be relevant to you (e.g. furlough):

• Your pension and other investments, including the impact of market volatility on fund values and other points to consider;
• Options for members close to retirement in the current climate, including the impact of lower fund values on retirement planning and what you can do now;
• The impact on income for any individuals affected by furlough;
• Managing household expenditure and how to reduce costs;
• Support for the self-employed and understanding the government grant;
• Support with your mortgage, rent and debt, including the options available from lenders and legislation to protect tenants.

Click the link below to launch the webcast, which we hope you find helpful (note please disable VPN prior to viewing).

Managing your finances during the coronavirus crisis webcast link

Additional support for ERSP members who are close to retirement

If you’re planning to retire and take your retirement savings within the next few months, ‘WEALTH  at work’ are also offering ERSP members a free helpline service, where you can arrange a 45 minute call with one of their specialist advisors to discuss your immediate retirement options.

Please call 0800 234 6880, if you wish to take advantage of this service. The call is confidential, will last around 45 minutes to an hour, and provides information only on the advantages and disadvantages of your options under the ERSP. It will not include or constitute financial advice.

Further information

To track what’s going on with your retirement savings, log on to your account at www.experian.co.uk/retirementplan using your individual login details. Alternatively, you can email the Experian team at Capita experianpensions@capita.co.uk or the Experian Group Pensions Team grouppensions@experian.com.

If you feel you still need to speak to someone, you can contact the Experian pensions team at Capita on 0114 229 8273, but you may experience a delay as call volumes are high at the moment. Please note neither Capita, Experian Group Pensions nor the Trustees can give you any financial advice, but they can help with your retirement planning.

Pre-retirement education and support

Please note that in view of the current circumstances, the Spring 2020 pre-retirement seminars are postponed until further notice. We will revisit these later in the year, taking into account Government guidance at that time.

And finally, a further reminder….

To take this opportunity to review and update your nominated beneficiaries (who you would like to receive your retirement savings in the event of your death), to reflect your personal circumstances. This can be done online at www.experian.co.uk/retirementplan or by completing a nomination form, which you can download from the resources section of the website.

The ERSP Trustees will continue to provide further updates on Coronavirus and Plan developments as appropriate, and hope that you all remain safe and well in the meantime.

The Trustees of the Experian Retirement Savings Plan