Research: Pension Wise service evaluation

Pension Wise offers free guidance to those aged 50 and above about their pension options. This report analyses quantitative research undertaken with Pension Wise customers and those who were eligible but did not take up the service.

Key findings:

• Around 12% of respondents had received guidance or advice about their pension from their employer.
• Just a quarter of respondents said that being contacted by their pension provider had prompted them to start thinking about their retirement options.
• Only 5% had heard about Pensions Wise through their employer.
• Overall, Pension Wise has been shown to provide high levels of customer satisfaction, and having an appointment with the service was strongly linked to improvements in knowledge and understanding of pensions options.

The research measures the success of the service in terms of customer experience and the outcomes achieved, relative to non-users.