Now here’s a dilemma.

plane-1

What would you prefer to have: One luxury holiday now…?

Or two luxury holidays in retirement…?

When we asked the question this summer to over 2,000 UK employees, the results were very clear.¹

The vast majority – 68% - wanted the holiday right now.

But a significant proportion - nearly a third, or 32% - were willing to wait, in some cases, depending on their age, many years.stat_3

The result – which wasn’t altogether surprising - has implications for the way you run your pensions comms campaigns.

That’s because the question revealed two sets of people with very different financial attitudes.

One – the majority – was focused on their immediate needs. They were offered something good and wanted it right now. They weren’t willing to hold out for something considerably better a few years down the line.

The other – a minority – showed the willpower to delay gratification (well, they said they did anyway; obviously this wasn’t a real offer!).

They were willing to put their current needs on hold, for a bigger reward down the road.


If these attitudes were replicated in real life, who do you think it would be easier to “sell” pensions to…

…and convince to increase their investment in their own pension?


Clearly, those who were willing to make sacrifices in the present for the sake of a better future would be far more receptive to messages about the need to save for their retirement.

And yet, in our pensions comms, we generally don’t distinguish between these groups.

If we segment our employees at all for our pensions campaigns, it’s by age: Who is close to retirement, and is therefore probably taking their pension quite seriously? And who is younger, and perhaps not as fussed?

people2

But as this example shows, there may be fundamental differences between people’s attitudes and values when it comes to money and to saving, which might make a much bigger difference in how they respond to your campaigns.

If you can find a smarter way of segmenting your audience, you might find that some of your employees become far more engaged with their pensions…

…And it might become much easier to get them to take action and save more.


This is the kind of issue we are going to cover in our series of live workshops, delivered across the country in October and November.

As a participant, you will get exclusive access to the rest of the results of the survey, which concerned workers’ attitudes to money, pensions and savings – and crucially, what they want and expect from pensions comms.

You’ll learn some simple-but-powerful techniques to increase engagement with pensions.

You’ll also discover our best-practice framework to use to structure your pensions comms, designed to make them far more effective.

The events are completely free, but because of the format spaces are extremely limited. So don’t wait:

Book my place right now


¹ PS Aspire report: It's time to change: A research-driven guide to optimising your pension communications (July 2018, 2,035 respondents). 

Posted by Steve Butler

Topics: Employee Communication, Employee Engagement

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