ORBIT BRIEFING : PROMPT
Prompt FAQs
These are some of the common questions we are asked about Prompt. If, after reading the answers, you still require assistance please contact the Orbit Helpline at info@orbitbenefits.com or 0207 204 1212.
- Q. What is 'Prompt'?
- Q. Why do we send you this information?
- Q. What can you do with this information?
- Q. How does 'Prompt' work?
- Q. How do I change the default settings?
- Q. What other planning tools are there?
Q. What is ‘Prompt’?
Prompt is the e-mail messaging service in the Orbit online benefits system. There are currently two types of message you can receive:
Fund Valuation
The system automatically sends you a routine valuation of your pension policy every three months (or a different period if you have selected it). For each fund you are investing in, it shows the current value and the performance over the last 12 months.
This is what a typical Fund Valuation looks like:
| Fund | Current Value (£) |
Performance in last 12 months (%) |
|---|---|---|
| Euro Smaller Cos | 7,565 | 20.5 |
| Global Equities | 6,532 | 7.1 |
| Ethical | 5,879 | 17.4 |
| Cash | 8,972 | 5.3 |
| Total | £28,948 | |
| Previous total | £26,121 |
Investment Alert
The system sends you an Investment Alert whenever one or more of the funds you are currently investing in has gone up or down by at least 5%, or a different % if you have selected it. The e-mail shows the actual fund(s) affected, the % change and the period over which it has occurred. This indicates whether the change was caused by sharp movements in markets or a more gradual trend.
This is an example Investment Alert:
| Period | ||||
|---|---|---|---|---|
| Fund | Change in unit price (%) | from | to | Performance in last 12 months (%) |
| Mixed | -6.5 | 01 Jun 07 | 31 Aug 07 | 7.9 |
These e-mails are intended to ‘prompt’ you into thought and, possibly, action. You can visit the Orbit secure website for more information or you might just delete the e-mail. Whichever you choose, you know what's happening to your pension.
Q. Why do we send you this information?
Our goal is to help you manage your pension plan more effectively, to build up a larger fund for your retirement. The main factors that affect this during your working life are how much you and your Company invest and how well the funds you have selected perform. The first step is to get in the habit of monitoring your pension regularly.
In the bad old days of offline pensions, it was just about impossible to get accurate and up-to-date information. With online pensions through Orbit, personalised data is just a click away and the purpose of Prompt is to send you relevant information at the right time – to get you interested and put you in control.
Your pension plan will give you cash and income in your retirement. It really is an important asset and, if you make the effort, you can affect its value.
Q. What can you do with this information?
Prompt is intended to make you 'think pension':
- Are you happy with the fund(s) shown in your Pension Valuation?
- Is each fund's performance satisfactory? Could you do better?
- Is the % change in an Investment Alert up or down, and over a short or long period?
For most people, pensions are a long-term investment so knee-jerk reactions are unnecessary. However, we encourage you to adopt a proactive, enquiring approach to fund selection and performance. The Orbit website contains the information and data to help you make informed choices and, importantly, the ability to take action. You can redirect future contributions, switch some or all of the existing value or decide to do nothing.
Whatever you do, we want it to be a positive decision based on accurate information.
Q. How does Prompt work?
As soon as you start your pension with Orbit, the Prompt messaging service is activated automatically. You have the option to change the default settings (3 months for Fund Valuations, 5% for Investment Alerts) or deactivate the service through your personal account in the Orbit secure website.
Please note:
Fund Valuation
Where you have selected the quarterly (default) or monthly option, the e-mail will be sent during the first week of that quarter/month.
Investment Alert
As soon as Prompt is activated, the price on that day for each of your funds is set as the baseline. Every day, this baseline price is checked against the latest price and, as soon as there is up or down movement by the selected percentage (you can choose 2.5%, 5%, 7.5% or 10%), an Alert message is sent to you. The baseline price is then reset to the new price that caused the Alert and the daily checks start again.
Q. How do you change the default settings?
To change the frequency at which you receive regular Fund Valuations or the % change that triggers an Investment Alert, go to the secure Orbit website at https://orbit.orbitbenefits.com. Enter your username and password and click on Prompt in the Tools section.
Q. What other planning tools are there?
We are passionate about developing online tools that help you to manage your pension more easily and more effectively.
Our ‘A-Day’ Pension Calculator is a powerful tool that helps you take full advantage of the new pension rules that came into force in April 2006.
- Personalised with your details so you can start using it straight away
- Huge range of ‘What if ...’ planning options
- Instant graphical results with intelligent messaging
- Constant check against the key elements of the new legislation
- ‘How do I ...’ user assists with answers to typical planning questions
Make sure you log in to the Orbit secure website to use your A-Day Pension Calculator – it's unique to you.
Contact Orbit
www.orbitbenefits.com
info@orbitbenefits.com
Tel: +44 (0)20 7204 1212
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With Prompt, you can start to take real, proactive control of your pension.
