Individual advice and guidance
Prospect can offer advice and legal representation on pensions issues. Members seeking this should first contact their local Prospect rep or full-time negotiator.
If a member dies, their partner, spouse or other beneficiaries of the pension scheme can seek advice from Prospect about matters relating to the benefits and rights of dependents arising from the scheme for up to 12 months after the member’s death.
Individual advice on pension-related decisions is available from Prospect's financial services provider, Lighthouse. Financial advice can only be provided by an independent financial advisor. Please note Prospect are not authorised under the Financial Services and Markets Act 2000 to provide financial advice.
Prospect’s Pensions Reps
Pension reps provide an important role in resolving members pension queries and raising awareness of pension matters in the workplace. Pension and saving for retirement is a detailed and technical area, so their role is often to direct members to the appropriate workplace or union contact, if they cannot answer the query themselves. Their duties can include:
- Being the point of contact in the branch for pension issues
- Receiving and sharing updates on pension issues with branch officers and branch membership
- Raising awareness within the branch and membership about the provision of pension provided by the employer – This is key to putting pension improvements on the agenda with members and employers.
Prospect provides pension training to prospect pension reps so no prior pensions knowledge is required. The first stage course is an ‘Introduction to Pensions’, this is covered in one day and provides a basic understanding of the State Pension, Defined Benefit and Defined Contribution Pension Schemes. The second stage course ‘Pensions Champion Course’ is held over two days and reviews pensions and saving for retirement in more detail.