This document discusses considerations for designing retirement schemes for members. It highlights collecting data on members' current pension pots, contributions, ages and where they are in their retirement journey. The goal is to help employees securely plan their financial futures through empowering individual decision making with easy, attractive, social and timely communication. Technology like personalized pension apps and emotional connections are seen as ways to improve pension savings success.

1. 21 s t C e n t u r y S c h e m e s
D e c i d i n g o n t h e r i g h t s c h e m e d e s i g n fo r y o u r m e m b e r s

2. P e o p l e h av e a l o t t o t a ke i n t o
c o n s i d e r a t i o n …

3. W h a t d o e s g o o d l o o k l i ke ?

4. K n o w i n g e x a c t l y w h a t t h e y
h av e t o d ay … .
Age by pot value of active
members
Number of
members
13,760
Average
age
39
Total Pot
value
£567m
Average
pot value
£42k

5. … a n d h o w m u c h t h e y p ay Age by contributions of active
members

6. K n o w i n g w h e r e t h e y a r e o n
t h e i r j o u r n ey …
Beginning Middle End
Age by contributions of active
members split where they are
on their retirement journey

7. £0 £1,000,00
0
Projected pot size of members
at Retirement by Postcode
… a n d w h a t t h e y a r e o n t r a c k
fo r

8. 8
H e l p y o u r e m p l o y e e s t o s e c u r e
t h e i r f i n a n c i a l f u t u r e s …

9. . . b y e m p o w e r i n g i n d i v i d u a l s t o
m a k e g o o d d e c i s i o n s …

10. E A S TEasy Attractive Social Timely
… t h ro u g h E A ST c o m m u n i c a t i o n

11. Te c h n o l o g y c a n h e l p …

12. Financial technology is
becoming more per sonalised

13. “Hi Alexa, how
should I save for
my pension”?
Pension technology needs to
become more per sonalised

14. Emotional connection is needed
for pension savings success

15. I ’ d l o v e t o h e a r f ro m y o u
Lydia Fearn
Head of DC & Financial Wellbeing
lydia.fearn@redington.co.uk
020 3463 8050
@fearn_lydia
in/lydia-fearn
2-6 Austin Friars, London EC2N 2HD Telephone : +44 (0) 20 7250 3331 www.redington.co.uk