Improving your pension member communications – ‘ACTing’ to make complexity accessible

1. Know your audience

Different people engage in different ways, and providing communications through multiple channels (emails, SMS updates, in person, posters, member portals, and explainer videos) ensures members receive information in a way that suits them best.

Never underestimate the importance of the basics… Do members understand the type of arrangement they are in? Where is their money invested? What income will they need in retirement? What are they forecast to receive? How can they plug any gaps? What other sources of retirement income will they have (e.g. other pension schemes including the State Pension)? When can they take their benefits? What are their options at retirement? Where can they go for information? The answer to these questions will impact what type of communication members will need and when.

2. Measure effectiveness and adapt

If possible, conduct member surveys, track engagement metrics (e.g. web visits, provider calls, increases in contributions, levels of complaints), and work with your advisers to plug into their focus groups held across the industry to provide insights into what works and what doesn’t.

3. Write for clarity and reassurance

Use plain language and avoid jargon. Start with the important stuff and tell members exactly what they need to do. Put simple explanations next to technical terms – think friendly translator, not technical manual – and be consistent with your terminology.

4. Tailor your messages

Messages should be tailored to individual circumstances such as age, retirement proximity, and contribution levels as this makes communications more relevant and engaging. Making communication as inclusive as possible is key and there are some excellent guides available to help think differently about communication.

5. Regular engagement and calls to action

Many pension schemes only communicate with members once a year via annual benefit statements. Regular touchpoints, such as quarterly updates, educational campaigns or personalised nudges, all help keep pensions front of mind and encourage active engagement. Remember, there is a fine balance between education and too much information – the key is to deliver focussed messages at the right time.

At Pi we believe that, as an industry, we need to empathise and stop making pensions a scary subject – recognising that people do not need to be experts, but they do need a basic understanding in order to make the right decisions for themselves. There is no doubt that effective communication strategies empower members to make informed decisions about their financial future and by committing to delivering this, schemes and trustees not only fulfil their compliance obligations but also enhance trust, participation, and overall retirement outcomes.