After two years of almost zero pension engagement, other than sporadic video calls, get employees of this global brand talking and thinking about their pensions once more.
A new pension scheme was launched with lower charges, wider propositional richness and more appropriate default fund selection.
This internationally known client has over 700 UK employees. Prior to the global Covid pandemic, there had been ambitious plans to raise the bar on pension engagement. A new scheme with a workplace savings provider (offering SIPP, stocks and shares trading, ISA and GIA) was agreed upon and a launch was pencilled in. This was April 2020. Quickly, it was decided to postpone launch until April 2021. Once this had bedded in, governance delivered and the bulk transfer completed, the next step was to plan a huge engagement drive.
What we did:
6 employee presentations virtually between April and June 2021
2 follow up presentations to explain the bulk offering in July 2021 (resulting in over 90% of assets coming from the older scheme into the new one, which is way above the UK average)
Penson awareness day campaign involvement in September 2021
May 2022, August 2022 and November 2022 – Live EBCtv broadcast with huge numbers cumulatively joining from the client
September 2022 – 3-week roadshow completed, visiting the North East, East Midlands, Lothian, North West and North London. EBCtv ‘live’ was delivered to employees. The highlight in these engagements were the very vibrant and fun interactive technology involvement, pop quizzes and the smiles.