We asked nearly 2,800 public and private employees with defined benefit, defined contribution and hybrid plans their views on top-of-mind pensions and retirement topics.

1. NWhat membersreally think
of their pension plans and
retirementreadiness
THE PULSE
OF PENSIO S

2. 2Copyright © 2018 Accenture. All rights reserved.
SERVINGMEMBERS
STARTSWITH
UNDERSTANDINGTHEM
That’s why we asked nearly 2,800 public and private employees
with defined benefit, defined contribution and hybrid plans their
viewson top-of-mind pensions and retirement topics
Here’s what welearned

3. MEMBERSVALUEPENSIONSPLANSASMUCH
ASTHEYVALUEHEALTHCAREBENEFITS
73%
stay withan
employer becauseof
retirement benefits
78%
say pensionsbenefits
are critical toaccepting
employment
42%
would trade a20% pay
cut for abigger company
401K contribution
3Copyright © 2018 Accenture. All rights reserved.

4. MEMBERSARECONFIDENTABOUT
TOMORROW’SSAVINGS…
64%Feel theywill
haveenough
savings to
retire at65
57%
62%
70%
BabyBoomers
(ages 53 –71)
Generation X
(ages 38 –52)
Millennials
(ages 20 –37)
Olderworkers are less
confidentthanyounger:
4Copyright © 2018 Accenture. All rights reserved.

5. 11%Feel they
haveenough
savings that
they could
retiretoday
27%
17%
Traditionalists
(ages 72+)
BabyBoomers
(ages 53 –71)
Confidencelagsforthoseat
orpastretirementagetoo:
…BUTTHEYAREN’TCONFIDENT
ABOUTTODAY’S
5Copyright © 2018 Accenture. All rights reserved.

6. HOW DOMEMBERS
EXPECT TO GET
FROMTODAY
TOTOMORROW?
6Copyright © 2018 Accenture. All rights reserved.

7. MOSTMEMBERSTHINKIT’SIMPORTANTTO
STARTSAVINGFORRETIREMENTWHENYOUNG
think the best time to
create a plan is between
the ages of 21and30
40
39%
41%
started planning
for retirement
during their20s 32%
think the best time to
create a plan is between
the ages of 31and40
20 30
(AGE)
7Copyright © 2018 Accenture. All rights reserved.

8. MEMBERSAREHUNGRYFORINFORMATION
8Copyright © 2018 Accenture. All rights reserved.
77%want more
knowledge about
retirement options
1/3think they have the
right investmentsin
their portfolionow
82%want more
education
on planning

9. 20%rely on selfresearch
9Copyright © 2018 Accenture. All rights reserved.
19%rely on theiremployers
MEMBERSMOSTLYRELYONTHEMSELVESOR
THEIREMPLOYERSFORINFORMATION

10. BUT…
40%
have notsought
help to date
1/2
say theiremployer
doesn’t provide
coaching
MEMBERSSEETHEVALUEOFCOACHING
84%
10Copyright © 2018 Accenture. All rights reserved.
would like to be coached
during their entire working
life to prepare forretirement
would be less
concernedabout
retirement ifthey
had a coach
69%
79%would like continued
coaching even in retirement

11. MEMBERS ARE OPEN
TO NEW WAYS OF
CONNECTING
11Copyright © 2018 Accenture. All rights reserved.
While current usage is low—for now—members show a high
interest in using digital channels like webinars, mobile apps,
mobile alerts and web chats to receive information

12. BUTAGENCIESNEEDTOPICKUPTHEPACE
30%
12Copyright © 2018 Accenture. All rights reserved.
Less than 1/3 of respondents
consider their pension agency
effective in using emerging
technology to improve services
Source: Accenture Citizen Survey 2018 of 6,000 people across 6 countries the United States, Australia, the United Kingdom, Singapore, France and Germany.

13. MEMBERSWOULDWELCOMEONLINELEARNING
13Copyright © 2018 Accenture. All rights reserved.
54% would definitely use +
14% already use WEBINAR
for retirement education
68%

14. +
MEMBERSINCLINEDTOWARDMOBILEAPPS
50%would definitely use MOBILE APP
for retirement education
17%already use MOBILE APP
for retirement education
14Copyright © 2018 Accenture. All rights reserved.

15. MEMBERSWOULDVALUEAGENCYUSEOFAI
15Copyright © 2018 Accenture. All rights reserved.
74%to increase pensions
or retirement income
59%to prevent hacking
55%to detect fraud
Source: Accenture Citizen Survey 2018 of 6,000 people across 6 countries the United States, Australia, the United Kingdom, Singapore, France and Germany.

16. MEMBERSGAMEFOREXTENDEDREALITY
66%are willing to use virtual
reality if it could help
them better manage
retirement savings
Source: Accenture Citizen Survey 2018 of 6,000 people across 6 countries the United States, Australia, the United Kingdom, Singapore, France and Germany. 16Copyright © 2018 Accenture. All rights reserved.
29%have already used
virtual reality for
gaming or learning

17. MEMBERSOPEN TO
DIGITAL RETIREMENT
COACHING
17Copyright © 2018 Accenture. All rights reserved.
Almost half of the respondents (46 %) would like to
use a digital retirement coach
BUT only 1 in 10 (11%) say they have been offered one

18. 18Copyright © 2018 Accenture. All rights reserved.
KEYTAKEAWAYSFROMTHERESEARCH
PENSIONS ARE THE NEW HEALTHCARE
Healthcare has been in crisis for years in the United States.
Pensions is on a similar trajectory. There is renewed
demand for pensions as an employment benefit. And the
push-and-pull between adequate pensions benefits and
fund sustainability makes pensions an equally big social
and economicchallenge.
1

19. 19Copyright © 2018 Accenture. All rights reserved.
KEYTAKEAWAYSFROMTHERESEARCH
FEELINGS ARE NOT FACTS
Most members feel they will be able to retire at 65.
But this may be false confidence, based on thinking,
not knowing. There’s an information and education
gap that pensions agencies can fill, helping people
truly understand what they need to do across their
employment journey truly prepare for retirement.
2

20. 20Copyright © 2018 Accenture. All rights reserved.
KEYTAKEAWAYSFROMTHERESEARCH
DIGITAL IS THE ELEPHANT IN THE ROOM
Memberswant digital services, and they get them in all other
facets of their lives. Digital coaching services help members
get value from the volume of data out there through highly-
personalized advisory services. And pensions agencies help
thousands of members on each person’s terms. A win-win.
3

21. 21Copyright © 2018 Accenture. All rights reserved.
KEYTAKEAWAYSFROMTHERESEARCH
RETIREMENT IS THE NEXT CAREER
Just like they would for any job, people need to get
educated for their retirement “career.” Everyone does
it differently, based on everything from information
thresholds to personality type. When pensions agencies
really understand their members, they can engage
them at all phases of the pensions lifecycle.
4

22. QUESTIONSEVERY
PENSIONAGENCY
SHOULDASK:
22Copyright © 2018 Accenture. All rights reserved.
• Do you know what your members expect from you?
• Are you interacting with members ontheirterms?
• Howwillyoubalance meeting member needs and
protecting objectivity and new fiduciaryresponsibilities?

23. CONTACTS
ABOUT ACCENTURE
Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy,
consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40
industriesand all businessfunctions—underpinned by the world’s largest delivery network—Accentureworks at the intersection
of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With
more than 435,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the
world works and lives. Visit us at www.accenture.com/pension
Owen Davies
Global Managing Director,
Pension Industry
Teri Bennett
Senior Manager,
Pension Industry
Eyal Darmon
Managing Director,
Pension Industry