Behavioural engagement A focus on taking actions and keeping informed and updated on pension saving and performance. This includes remaining in a workplace pension scheme and an increase in attendance at information sessions. It’s important to recognise the interrelationships between cognitive, affective and behavioural engagement. Relying on nudges or information alone will not drive voluntary behaviour. A combination of nudges, personalised information and guidance and tools to enable individuals to plan are necessary to overcome the inherent barriers to engagement. This also needs to be set within the wider context of the ecosystem and potential structural and other barriers to engagement. Read our white paper in full. Affective engagement Increased interest and motivation in saving for later life and increased emphasis on the importance of longer term saving. This has the potential to lead to lowered anxiety and worry about retirement. are more interested in saving for retirement since being auto-enrolled say they only check the amount saved in their pension once a year are worried they won’t have enough money when they retire said they actively keep a track of any previous pensions feel saving for the future is important of individuals wait to receive an annual benefit statement in order to get an update on the amount saved in their pension agree they want to make sure they can keep doing the things they enjoy in retirement of those with multiple pension pots said it will be useful to see all pension savings and investments in one place 49% 76% 47% 84% 24% 31% 53% 77% A decade of auto-enrolment: has it helped or hindered saving psychology? 29
RkJQdWJsaXNoZXIy MjA4NTgz