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Smarter. Simpler. Better. @nowpensions
Smarter. Simpler. Better.
Auto Enrolment:Communicating on the front footNiall Ferguson | National Partnership Manager
5 November 2013
Smarter. Simpler. Better. @nowpensions
Why communicate AE?• Fundamentally Auto Enrolment will present a
cost to your employees
• It is a positive workplace benefit and demonstrate commitment to employees
• Minimise questions and anxiety
• It is an employer’s duty to do so
Smarter. Simpler. Better. @nowpensions
What happens if we don’t engage with employees?
Surely it will manage itself?
No comms zone
!Or will it. . .?
Smarter. Simpler. Better. @nowpensions
Checked my payslip only to find that my money has
been taken!
They did it automatically, without even
asking
It’s the Government’s doing
– something to do with pensions
Smarter. Simpler. Better. @nowpensions
Had employees been aware of the Auto Enrolment then perhaps they would have welcomed the changes…
Smarter. Simpler. Better. @nowpensions
This is going to kick start my
retirement saving
Good idea!
Smarter. Simpler. Better. @nowpensions
The competition for attention
Smarter. Simpler. Better. @nowpensions
Smarter. Simpler. Better. @nowpensions
Smarter. Simpler. Better. @nowpensions
PLUS… overcoming the common misconceptions
Smarter. Simpler. Better. @nowpensions
1. “Plenty of time” 1. “Will invest in property”
1. “State Pension is best” 1. “Everything will be fine”
Smarter. Simpler. Better. @nowpensions
The Comms timeline
1. Intrigue (6 months in advance)
2. Inform (3 months in advance)
3. Integrate (During)
4. Instill (Thereafter)
Smarter. Simpler. Better. @nowpensions
1. Intrigue
1. “Imagine if you could save twice as much at half the cost…”
Hmmm. . .Sounds
interesting
Smarter. Simpler. Better. @nowpensions
1. “You, your employer and the Tax Man will combine to make sure you have more money come retirement.”
2. Inform
Makes perfect sense
to me
Three heads are better than 1You can save more
Smarter. Simpler. Better. @nowpensions
1. “Your pension is just one part of your wider reward package.”
3. Integrate
The benefitshere are
really good
TOTAL REWARD
Salary and…+ Healthcare+ Dental insurance+ More holiday+ Gym+ Car allowance+ Pension
Smarter. Simpler. Better. @nowpensions
1. “Look how much you are saving as a result of Auto Enrolment!”
4. Instill
Can I pay even more?!
SAVE MORE?
Smarter. Simpler. Better. @nowpensions
Care UK sees 4% opt-out after comms barrage!
EB ECHO
Care UK has experienced an opt-out rate of just 3.8 per cent since implementing auto-enrolment in March, putting its success down to an intensive, multichannel communications strategy.
Warburtons see 2.3% opt-out after comms drive!
Benefit Daily
NAPF conference 2013: At just 2.3 per cent Warburtons has seen one of the lowest opt-out rates reported following a communications campaign that included personally contacting each employee that requested a form to leave the scheme.
Smarter. Simpler. Better. @nowpensions
That’s why communication is key!
Smarter. Simpler. Better. @nowpensions
4.7m members
C160,000 employers
It certainly works for our members
Smarter. Simpler. Better. @nowpensions
NOW: Pensions is a UK occupational pension plan. Membership is only available through an employer. NOW: Pensions Limited, registered in England and Wales. Registered address: 3rd floor, 164 Bishopsgate, London, EC2M 4LX, UK. Our VAT number is 127894966.
This is written as a general guide only. It should not be relied upon as a substitute for specific professional advice. Please note past performance is not a guarantee of future returns.
Any questions?nowpensions.com0 333 33 222 22
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