- Pension basics
- Scheme benefits
Your Pension checklist
Your Pension is the online portal to access your personal account. It’s a great way to keep track of your money and to find out how much you could get when you retire.
When you sign in to Your Pension, you’ll see a few simple things that you can do to keep your retirement on track.
Most of the time, your pension looks after itself. But it’s a good idea to check these things:
- every year
- when there’s a change in your life, such as getting married, having children, moving house or getting a pay rise
If you don’t have an account yet, find out how to register.
Review your contributions
If you’re making Additional Voluntary Contributions (AVCs) from your salary, check how much you’re saving or set a new amount.
If you’re not sure how much to save, you can review your spending habits with our retirement lifestyle planner.
You can also compare the benefits of staying in your current scheme and saving AVCs, with switching to the Your Tomorrow scheme. To do this, use our pension savings modeller.
Review your investments
How much your AVCs grow depends on how your money’s invested.
You can choose from a variety of funds.
Review your dependants and beneficiaries
Nominate people to receive any lump sum that’s due when you die. This could include someone like a spouse, civil partner or someone who depends on you financially, such as a child.
If you die before you start taking your pension, these people may get a cash lump sum.
If you die after you start taking your pension, we’ll usually pay a pension to your spouse or civil partner. Otherwise, if there’s someone else who depends on you financially, they may get a pension.
Update your email address
It’s important to link your account to an up-to-date home email address, not your work email. This way you keep access to your account, even if you change jobs.
Add your personal phone number
As with your email address, it’s important to add a personal phone number to your account, not a work number. That way, we can keep in touch with you, even if you change jobs.
Get independent advice
The closer you get to retirement, the more important it is to have a plan.
What’s best for you will depend on a few things, such as how much income you’ll get from your Lloyds Banking Group pension, and whether you’ll have any other income, for example from other pensions or investments, or the State Pension.
That’s why it’s important to know your retirement options.
It's important to think carefully about any big decisions and you may want to find a regulated retirement adviser.