Engagement in pensions

Thanks to auto enrolment, over 10 million more people are now saving for retirement. The enrolment process, coupled with the ‘set and forget’ payroll mechanism, has helped people to get saving for retirement and make regular contributions. However, automatically enrolled savers tend to have lower levels of engagement with their pension than those who actively signed up themselves. The challenge for the industry is now to find ways to effectively increase engagement and do so in a way that drives positive savings behaviours.

At Nest Insight, we’ve been working with our partners on a range of research programmes to build a better understanding of the existing behaviours of automatically enrolled savers, and to explore how those behaviours might be influenced to help them achieve better outcomes.

Language and messaging

Working with our strategic partner, Invesco, we’re conducting in-depth qualitative and quantitative research focused around a particular communication issue to identify language and message framing that better engages, informs and motivates individuals to save for their retirement to drive a defined positive outcome.

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ESG and Member Behaviour

Working with our programme partner, Legal & General Investment Management (LGIM), this project will seek 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 whether doing so has any impact on savings behaviours.

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Life events, emotions and beliefs

In 2017, we conducted research with Maastricht University to understand the drivers of engagement in pensions, and how factors such as emotions, beliefs and life events can influence the effectiveness of pension communications.

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