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Banking on tomorrow: a case study on retirement
When one financial services organisation went through a benefits transition, one of the most important priorities was retirement planning.
With changes to the retirement scheme on the horizon, leaders knew they needed to do more than simply communicate the updates, they wanted to ensure their people understood the long-term impact of their choices and help them to make the best decision.
Turning change into opportunity
Rather than focusing only on the technical details of the new scheme, the employer partnered with nudge to place financial education at the heart of the transition.
The aim was to give employees the knowledge and confidence to make informed decisions - whether that meant increasing contributions, consolidating pensions, or setting clearer long-term goals.
the project was underpinned with personalised, timely communications that aligned with internal announcements and broader wellbeing initiatives. These nudges delivered education in digestible, relevant ways, ensuring that every employee built understanding at their pace.
Creating meaningful engagement
The team emphasised the opportunity during Pensions Awareness Week (in September), which highlighted the resources available and prompted thousands of reads on the nudge platform.
What started as curiosity soon grew into genuine interest, with retirement education becoming the most popular topic across the organisation.
Timely support also directed people to review their contributions, or exploring ways to combine existing pensions. It linked directly to the retirement portal to make the next steps as easy as possible.
Engagement rates soared, with more than three-quarters of employees opening and acting on these communications.
Alongside the nudges, live webinars and provider events offered deeper guidance. Since people had already been engaging with the personalised education, the sessions landed with greater impact. Employees arrived informed, ready with questions, and more open to taking positive action on their retirement plans.
The impact
Within months, nearly three-quarters of employees chose to make additional voluntary contributions to their retirement plans. The financial services company also saw an increase in it's financial health score, particularly in the Planning pillar, which measures long-term financial confidence and retirement readiness.
By embedding education into the transition process, the team transformed a potentially complex and daunting change into an opportunity for growth. Employees didn’t just adapt to a new retirement scheme, they enhanced their knowledge and confidence to make choices that will benefit them well into the future.
Supplied by REBA Associate Member, Nudge
A leading financial wellbeing benefit using behavioural science & technology to help employees.
