Recently my firm made a breakthrough in improving the provision of occupational pensions. Some of you may think that a breakthrough in pensions sounds comical or at best unlikely in the dry old world of actuarial science and workplace benefits. But at Hymans Robertson, we beg to differ.
Our premise is this. Because of a change to legislation, most of us are being automatically enrolled into a workplace pension, typically in schemes that are known as defined contribution or DC for short. Employers find these costly to provide and scheme members find the topic unbelievably complex or one for later years. The problem with DC is that the risk is all with the individual, who isn’t well equipped to know what they will need in retirement, nor how to go about saving.
For example, our research shows that a huge 74% of employees asked say “they want more help” with retirement savings (we questioned 500 staff nationwide), yet no one is providing it.
So we decided that there has to be a better way of helping people plan their retirement savings based on their circumstances. This is it – http://bit.ly/11XsQDt – GO (short for Guided Outcomes) is a brand new way of providing employers and employees with a plan that focuses on outcomes. We make this possible by providing the tools, the data analytics and a savings platform that recognise we are not all the same and need more help.
And as we believe that the potential buyers of GO are business folk first, and humans beings always, then we need to appeal to them in a way that gets their attention. We went all out on this, by introducing a comic character Mr Feelgood.
Check out our marketing approach at http://bit.ly/12TFlgE and see what you think? Does it prove that b2b marketers need to push their colleagues creatively in marketing their wares or does it feel territory that only consumer brands should enter?
In a nutshell, does it make workplace pensions ‘Feeeel Good’?
#Feelgoodfriday @hymansrobertson www.hymans.co.uk