Distinctive communications for pensions and HR inspire engage enrol illuminate explain Peter 07595 835749 Nick 07851 071793
The Pensions Regulator wants improved focus on ‘member outcomes’ for employer sponsored DC pension arrangements.
The result? Increased scrutiny on how employers/trustees manage DC schemes.
What is a better ‘member outcome’? Measurements might include:
A better member outcome depends on some key factors:
That’s a lot for members to consider.
The result? Greater onus than ever before on better member communications to help members understand these issues and help employers/trustees focus on those areas that affect their specific audience needs.
We call this better outComms
By implementing a well planned and executed strategy that delivers tangible results.
outComms must be realistic. If the vast majority of members opt for default funds, perhaps there will be less focus on investment education and more done to increase the level of contributions; but for outComms to work, member outcomes must be realistic.
The starting point is a true understanding of your employees/members:
Set objectives for your outComms
To measure results you first need to identify what you aim to achieve. This could be a holistic goal, such as better overall understanding of DC pension issues, or something more tangible, say, higher overall levels of member contribution.
No matter the specifics of the member outcomes, the need to understand these is paramount to the delivery of a successful DC scheme.
My outcome may look very different from yours. In that case, why should my communications look the same as yours?
Segmentation is key to helping each and every one of us understand our own pension needs and how to meet them. We react differently to messages and interact differently using a wide variety of communication channels.
Tailor your message and make it relevant and you will have a greater chance of successful outComms.
To find out more about better outComms, contact:
Peter McInulty on 07595 835749. Click to email.