Case study: Ipsos UK’s targeted approach to supporting informed financial decisions

Monitoring the pensions calculator on our financial education intranet, we found a significant number of women opting out of the salary sacrifice pension scheme when going on maternity leave. We’ve also found that many senior executives don’t know they are affected by the removal of the Lifetime Allowance. Conversely, many of the new graduates joining us have very sophisticated financial knowledge, and ask us detailed questions about investment funds and other financial matters.

Consequently, we target our communications to different groups of employees. We actively speak to anyone changing their contributions because they are going on parental leave, discussing the future implications of coming out of the pension scheme. Our communication styles and types vary depending on the cohort and subject. Blanket emails don’t work.

Differentiating communication has increased attendance at education sessions. We offer about 40 sessions a year, making use of a close relationship with all our providers. They know exactly what kinds of financial benefits we offer, so they can tailor specific guidance. Our education is often targeted to certain groups, too.

Obviously, we can’t give advice, but we’re reducing confusion and offering straightforward, factual, non-advisory information. It’s crucial that we enable people to make informed decisions, rather than decisions based on what they think they need to do, without having the facts first.