Communicating on the front foot

Smarter. Simpler. Better. @nowpensions

Smarter. Simpler. Better.

Auto Enrolment:Communicating on the front footNiall Ferguson | National Partnership Manager

5 November 2013


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


What happens if we don’t engage with employees?

Surely it will manage itself?

No comms zone

!Or will it. . .?


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


Had employees been aware of the Auto Enrolment then perhaps they would have welcomed the changes…


This is going to kick start my

retirement saving

Good idea!


The competition for attention




PLUS… overcoming the common misconceptions


1. “Plenty of time” 1. “Will invest in property”

1. “State Pension is best” 1. “Everything will be fine”


The Comms timeline

1. Intrigue (6 months in advance)

2. Inform (3 months in advance)

3. Integrate (During)

4. Instill (Thereafter)


1. Intrigue

1. “Imagine if you could save twice as much at half the cost…”

Hmmm. . .Sounds

interesting


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


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


1. “Look how much you are saving as a result of Auto Enrolment!”

4. Instill

Can I pay even more?!

SAVE MORE?


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.


That’s why communication is key!


4.7m members

C160,000 employers

It certainly works for our members


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.

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Communicating on the front foot