4me is Barnett Waddingham’s award winning engagement platform where members can learn, play and plan holistically around their retirement options and goals.

Why use the 4me transfer module?

We centre on an 'education first' philosophy, taking away jargon and aiding informed decisions through impartial, clean and interactive design.

The transfer module of our 4me platform allows members to explore the finer details of their scheme benefits, discover the full range of options available to them and to model the impact of transferring from the scheme.

It was built to deliver engagement, which not only focuses on better member outcomes but also meets trustee and corporate objectives in controlling risk and meeting governance requirements.

How does 4me help pension scheme members?

When we built our Transfer 4me platform we wanted to continue our member centric approach and focus on:

Informing members

We take members through their transfer options and the main areas they need to consider before making any decision.

Using ‘nudges’, videos, and interactive tools, we empower members to make comparisons with their valuable defined benefit pension, giving members a fair and unbiased comparison of their benefits if they remained in the scheme and if they transferred including early/late retirement, cash commutation as well as full freedom and flexibility cashflow modelling across multiple retirement ages.

Protecting members

We know that the impact of making the wrong decision on a transfer could severely affect a member’s retirement outcome. Through clear communication and impartial guidance, we help members consider whether a transfer could be right for them and their own circumstances.

Facilitating members

We provide clear guidance on the next steps, including where advice is needed and how a member can find an IFA or get in touch with any IFA they choose to partner with.

4me acts as a triage tool to ensure members answer their own key questions first, with IFAs focusing on giving further advice only for those members who need it most.

What do members need to know about using 4me?

A transfer is a big decision for a member, so clear, impartial and interactive guidance is key to making sure that your members understand their options and what they’ll be giving up if they transfer. FCA regulation and TPR guidance champions this, focusing on giving your members a fair and unbiased comparison.

The Transfer 4me platform is built within our larger holistic 4me retirement planning suite, where we encourage your members to take a holistic view to retirement across any current and legacy defined benefit and defined contribution entitlements, taking into account future contributions as well as scheme specific factors as members model how much to pay in and when to retire. Find out more about what else 4me can do here.

For those interested in transferring, regulation requires most members seek independent financial advice.

Finding and partnering directly with a trusted IFA can remove a large barrier for your members, greatly improving their experience and retaining their engagement with the process. When choosing the right IFA for your members, IFA market experience and due diligence is vital to ensure members get good quality advice, at the right price, that fits in with your process.

We have strong relationships with all major IFAs. Working within the member advice market, wecan support you with IFA due-diligence and selection, as well as working directly with the IFAs themselves to provide APTA calculations as part of their transfer advice process.

IFAs must carry out an Appropriate Pension Transfer Analysis (APTA) for every member they advise, but preparing an APTA can be time-consuming and complicated. It is crucial that where IFAs outsource some analysis for their APTA to companies such as Barnett Waddingham, the process remains robust, seamless and avoids delays. Barnett Waddingham gives IFAs access to online platforms which seamlessly provide APTA calculations as part of their transfer advice process.

4me – member engagement

Employees have diverse needs at different points in their lives. 4me is about helping them to Learn, Play and Plan for important areas of their lives, with the help of their employer.

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