Boosting Pension Engagement Among Employees in the Third Sector: Insights from Our Latest Survey

 

The survey revealed that, on average, participants noted that 48% of their DC scheme members have registered for an online account. While this is a solid starting point, it underscores the need for improved strategies to boost participation and awareness. 

 

One key finding from the survey is that organisations which do not solely depend on their DC pension scheme provider for communications tend to achieve higher engagement rates. These organisations take a more proactive approach, tailoring their communications to better connect with their employees. This could involve regular workshops, personalised communication for demographic sections of employee groups (e.g. finance for women), and integrating pension discussions into broader financial wellbeing programmes. 

 

One of our members kindly shared a case study with the group at a meeting early this year, demonstrating the tangible benefits of these extra efforts. By implementing a series of targeted workshops and personalised communication initiatives, this charity member was able to significantly boost their engagement rates to over 60%. Their experience highlights the value of going above and beyond standard DC pension scheme provider communications to create a more engaging and informative pensions environment. 

 

By taking ownership of the communication process and investing in bespoke engagement initiatives, these organisations are able to foster a deeper understanding and interest in pension plans among their employees. It's a strategy that evidently pays off in higher engagement and more informed participants. 

 

As we continue to prioritise this issue within the Charities Pensions Club, these insights provide valuable guidance. We encourage all charities and not-for-profits to consider how they can enhance their own communication strategies to ensure higher engagement and better outcomes for their employees' futures.  

For more information about Charities Pensions Club, please contact chloe@charitiespensionsclub.com