All member engagement articles – Page 15
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Features
Electricity North West encourages members to join engagement panel
The Electricity North West Group of the Electricity Supply Pension Scheme is encouraging members of its defined contribution plan to join its engagement panel, as experts highlight how seeking member feedback can help with trustee decision-making.
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Opinion
Inertia and engagement both have a place in pension comms
Analysis: Defined contribution schemes have been warned to “adapt or die” on member communications, with a range of experts calling for a rethink of engagement.
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News
Communicating pensions to the next generation
There is a pensions crisis looming. How can the industry make people care about a problem that is 20 years away?
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FeaturesGSK launches new investment options for DC members
Global healthcare company GlaxoSmithKline and the trustees of its pension plans have introduced two new defined contribution lifestyle options, responding to a change in member retirement saving behaviour following the introduction of pension freedoms in 2015.
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FeaturesDiageo offers PIE and writes to members after rise in DB transfers
The Diageo Pension Scheme is offering a pension increase exchange exercise to defined benefit pensioners, and has outlined plans to write to deferred and active members explaining transfer options, following a spike in members cashing out.
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OpinionIs it time to update your communications strategy?
Secondsight’s Mark Bingham discusses the role of the employer when it comes to pensions communication, from choosing a multi-channel approach, to keeping things simple and free from jargon.
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PodcastsPodcast: Next steps for the pensions dashboard project
Podcast: Earlier this month, the Department for Work and Pensions published its long-awaited feasibility report and consultation on how the industry can create online pensions dashboards. What does the industry make of the study? And how much progress is needed to make the project a success? In this episode, Girish Menezes, board director at the Pensions Administration Standards Association, and Anthony Rafferty, managing director of fintech company Origo, discuss compulsion, dashboard governance and data.
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News
21% of older workers think they are too savvy to be scammed
A joint regulatory scams awareness campaign has prompted tens of thousands of people to seek information about pension scams, but more than half of 45-65 year olds with a pension still do not think they are likely to be targeted by con artists.
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OpinionAre you doing enough to protect your members from scammers?
Helen Miles, a pensions partner at law firm Squire Patton Boggs, explains how trustees and employers can communicate with pension scheme members to protect them from scammers.
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NewsOnly one in 100 members wants paper comms, finds BAA scheme
The BAA Pension Scheme’s digital push on communications has led to virtually the entire membership opting to switch to electronic information.
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News
Only 39% of young savers confident about retirement prospects
Young savers in the UK are in danger of being left in the lurch when it comes to retirement planning, a recent survey has shown, with experts mooting auto-escalation and better financial education as possible solutions to a looming crisis in the decades ahead.
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OpinionWhy would anyone set up a trust-based scheme today?
Secondsight’s Matthew Mitten explains the shift from trust-based to contract-based defined contribution schemes, arguing that individuals should be encouraged to engage with their pension through innovative workplace education rather than relying on a board of trustees to make decisions on behalf of the masses.
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News
Customers satisfied with Pension Wise, but take-up concerns remain
Nine in 10 customers who have had a Pension Wise appointment are satisfied with their experience of the service overall, a recent report has shown, but concerns remain over the take-up of the government-backed guidance service.
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FeaturesIndustry must innovate to build on pension comms progress
Many see the dashboard as a critical component in pensions communication. While the government’s promise to commit £5m to the pensions dashboard project is encouraging, there is so much more that needs to be done by providers, consultants and employers if the initiative is to have any real impact.
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OpinionHelping pension savers make the right decisions
As a regulator, we are sometimes asked how much money should be put aside for a comfortable retirement. We can answer only that ‘it depends’ – for example on an individual’s needs and expectations, and their other assets.
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News
Half of today’s over-40s are retirement savvy
On the go: Encouragingly, half of the over-40s in the UK have sufficient basic knowledge of the factors that may influence their later-life income to avoid the worst retirement pitfalls. However, one in 14 people are at high risk of making poor financial choices.
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NewsImperial Brands’ proposal to disband member forum ‘disappointing’
Imperial Brands is looking to discontinue a consultative committee at its Imperial Tobacco Pension Fund, arguing that the benefits gained by holding the forum do not warrant the cost, workload and logistical efforts required to run the twice-yearly meeting.
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NewsThousands of Nationwide scheme members sign up to new portal
Nationwide Pension Fund has seen successful take-up of its new online pensions portal among members, as the scheme continues to put its faith in online communications and works on new developments for the portal.
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FeaturesJLT switch to TDF default sees boost in engagement
An overhaul of the default arrangement in the Jardine Lloyd Thompson Pension Scheme’s defined contribution section, switching from a lifestyle arrangement to target date funds, has brought its more engaged members back from their self-select funds.