Customer research on auto enrolment.

19/01/2012

AUTO ENROLMENT RESEARCH SHOWS A MINIMUM OF 74% OF EMPLOYEES WILL STAY IN SCHEME

Towards the end of last year, we conducted a second round of customer research into how employees will deal with the auto enrolment process and what they thought of our communications, most notably our enrolment notification.

The qualitative research used focus groups with 7-8 interviewees recruited from a range of UK based organisations with 5,000+ employees.

The findings validated those from our first round of qualitative customer research held in May 2011, that found:

• Employees have limited knowledge of pensions and auto enrolment
• They have limited interest in pension saving as they have other financial priorities, e.g. student debt, mortgages
• But, they agree that people need that push to save more for retirement

It was reassuring to find from both rounds of research that at least 74%* of employees would remain in the scheme on being automatically enrolled, with 18%* unsure of what they would do.

On reviewing our communications, interviewees responded well to our enrolment notification and our online opt out facility WorkSave Choice, identifying a number of key strengths:

• Accessible and easy to understand
• Content is clearly presented
• Balanced and unbiased

To find out more about the results of our customer research read our Auto enrolment: Market research findings.

* These figures are based on the collation of the results of both rounds of research. There was a total of 123 participants.