What does choosing between eating a banana or chocolate have to do with retirement savings? It may seem like an odd question, but it actually holds key insight into the psychology behind our financial decisions.
It’s no secret that pensions can be complicated. And when savers fail to understand their pension, they’re unlikely to engage with it. To tackle this issue, top pension provider Standard Life is simplifying complicated topics with data-driven videos. The campaign, launched in collaboration with BT’s Division X Messaging Team and
Unclaimed pension pots are now equal to roughly £19.4 billion, according to the Association of British Insurers. But people aren’t just misplacing their pension pots — they’re forgetting about them. Pension awareness is alarmingly low, and it’s become a huge threat to the financial futures of savers everywhere. Just 20%
The FCA is raising the bar for customer care in the financial services landscape. Firms must now adhere to the Consumer Duty: a package of measures that aims to improve customer outcomes with better communication. This new Consumer Duty, recently issued by the U.K.’s Financial Conduct Authority (FCA), mandates that
Retirement planning is alarmingly low worldwide. In the U.S., nearly 60% of employees do not have a retirement account. Across the pond, only 43% of U.K. employees are confident they’ll retire at the age they want. The current solution? Automatically enroll employees in a pension fund. But auto-enrollment fails to
Building trust with your customers is one of the most effective ways to retain customers long-term and benefit from their word-of-mouth referrals. Every business wants to score customers for life — and trust is key to locking in those relationships.
Ask most people about their pensions and their eyes glaze over. It’s all too complicated, you hear them say, for somebody who isn’t a pro… And this is despite 90% of employees ranking pensions as one of their most important benefits. But pensions are complex, driving engagement levels as low
What would make people save more for retirement? To put money away for the future, savers need to give up something today.
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