How has Covid-19 impacted self-employed people’s savings attitudes and behaviours?
Date and time: Monday 14 December 2020 | 1-2pm (GMT)
Location: Virtual – GoToWebinar
Registration now closed
Speakers:
- Emelia Quist, Senior Policy Advisor at the Federation of Small Businesses
- Pensions Industry Expert, Jamie Jenkins
- Jo Phillips, Director of Research and Innovation at Nest Insight
Since last year Nest Insight has been working with the Department for Work and Pensions on a research programme that seeks to better understand the low levels of saving seen among self-employed people and to test a range of approaches to encourage and enable retirement saving.
From the offset, we’ve known that in order to design saving solutions that work for self-employed people, we first need to better understand their needs and context. For many households, that context has changed as a result of the Covid-19 pandemic.
This new research aims to understand the impact of the current crisis on self-employed people. How have personal finances and savings attitudes been affected? How does this vary across different groups of self-employed people? And what does this tell us about the types of savings solutions they might need? Join our panel discussion to hear our findings, and to learn how they are informing the development of the next stage of our research where we will be trialling tools and automated approaches designed to support self-employed people to save.
Sign up to the event to learn more and join the conversation: Register here.
Supporting emergency saving: early learnings from the employer experience
Date and time: Wednesday 9 December 2020 | 2-3pm (GMT)
Location: Virtual – GoToWebinar
Registration now closed
Speakers:
- Kerry Shiels, Pensions Director at BT
- Sacha Romanovitch, CEO of Fair4All Finance
- Asesh Sarkar, Co-founder and Global CEO of Salary Finance,
- Marion Hart, Financial First Aider at Timpson
- Gemma Burrows, Director and Senior Consultant at Willis Towers Watson
- Jo Phillips, Director of Research and Innovation at Nest Insight
- Will Sandbrook, Executive Director of Nest Insight
In the time since Nest Insight announced its sidecar savings trial in 2018, interest in the idea has grown. While it’s too early to draw conclusions from the trial itself, many in the financial services industry and third sector are already vocal in their support for the model, which combines an accessible ‘emergency’ savings account with traditional defined contribution (DC) retirement saving, all through the workplace.
But what are the views of employers who must play a key role in implementing, communicating and facilitating the savings tool? What’s the experience been like so far for the employers who are participating in the trial? What are the barriers to involvement for those who’ve been interested but unable to commit? And, how has Covid-19 changed employers’ attitudes to supporting their employees to save?
This event marks the launch of the second report in our briefing paper series sharing early learnings from our sidecar savings trial. Join us for an expert panel discussion, where we’ll share emerging insights from qualitative research with employers and delivery partners, conducted as part of our overall sidecar savings trial.
Sign up to the event to learn more and join the conversation: Register here.
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Can talking about responsible investment drive positive outcomes for pension members?
Date and time: Wednesday 11 November 2020 | 9:30-10:30am (GMT)
Location: Virtual
Registration now closed
Speakers:
- Emma Douglas, Head of DC at Legal & General Investment Management (LGIM)
- Sarah Booth, Director of Retail Brand and Marketing at OVO Energy
- Jo Phillips, Director of Research and Innovation at Nest Insight
Auto enrolment into workplace pension saving is now firmly embedded in the UK, and has brought millions of workers into saving for retirement for the first time. In recent years, the pensions industry has turned its attention to the challenge of engagement: with saving now a default behaviour, how can we ensure that people seek information and take action when they need to?
Many in the industry are starting to think that the answer to this challenge lies in talking with savers about the impact of their investments as a member of a pension fund. If people are interested in and motivated by environmental and social issues in other areas of their lives, could messaging around those issues in the context of their pension saving get them more involved in financial planning for retirement?
Working together with our programme partner, Legal & General Investment Management (LGIM), Nest Insight has been conducting to research to understand whether communicating with members of a pension scheme about the impact of their investments makes them more likely to engage with their retirement account, and crucially, whether doing so has any impact on downstream behaviours such as seeking information, logging into a pension account or changing contribution levels. This first report shares our findings on how this kind of messaging can be most effectively framed and communicated to drive member engagement, and on the demographic differences in how people engage with their pensions after receiving these messages.
Past events
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