Communicating pensions change
To communicate a complex change programme to final salary scheme members and simultaneously roll out a new index-linked pension fund.
Rubicon worked with HR and the pensions department to consider:
- which roles were fundamentally in-house,
- which to delegate,
- how to identify different audiences,
- the processes and timescales involved and,
- the most effective media for the job.
With the strategy agreed, we developed communication materials to help current members evaluate the relative merits of the existing and new pension arrangements. The various options available to current members and the deadlines for making a decision were explained in detail.
The new pension fund was rolled out to all new employees and existing non-members. Rubicon developed a branding for the new fund that was distinct from the existing final salary scheme in such a way that it could also partner that scheme and be recognisable as part of the family of benefits offered by the company. Against a background of adverse reaction by employees to any change in company pension arrangements, the success of this project is testament to a sound planning process, working with key stakeholders to identify and resolve potential issues of conflict before the launch.