Pasa publishes engagement strategy guidance

The Pensions Administration Standards Association (Pasa) has published guidance to help schemes in developing a modern engagement strategy as part of a successful digital programme.

The guidance covers six areas that it should be considered within the strategy: creating an emotional connection, creativity, relevant and current, inclusive and accessible, make it easy, continuing to measure and learn.

The group noted that whilst pension schemes used to focus communications strategy on compliance requirements or specific events, times have changed and engagement strategies are evolving to meet modern needs.

In particular, Pasa suggested that one key factor is the introduction of flexibility in the way people save and access their savings, and the way people absorb information and make decisions has become mostly emotional and time driven.

Pasa eadministration working group member, Banafsheh Ghafoori, stated: “Engagement strategy plays an important part in a successful digital programme, especially in our industry where engagement is low.

“We cover the six areas which should be considered within any strategy, detailing the minimum expected standard and suggested improvements to elevate these considerations to the optimum level. This approach is suitable for all scheme types and sizes and allows all schemes to progress on their journey from varying starting points.”

Pasa eadministration working group chair, Kim Toker, stated: “Striving for a successful digital engagement strategy will ensure a better saver experience which is personalised to their needs.

“Behavioural science, combined with AI and technology can be a powerful tool for increasing engagement and schemes need to ensure they capture the required information to utilise these tools.”

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