Following the successful launch of personalised member video statements1, People’s Pension2 is continuing to invest in engagement with its 7.2 million members through the launch of a new personalised video welcome3 and the integration of its personalised video statements into its member app4.
The UK’s largest commercial master trust is employing personalised video technology to welcome new pension members, helping them better understand and engage with their pension savings from the outset of their savings journey. The first phase will focus on new members as they begin their pension journey, and People’s Pension will gradually roll out the new video to all new and returning members over the coming weeks.
Building on the successful launch of personalised video statements5 earlier this year, the new video welcome rollout represents the next step in People’s Pension’s ambition to use innovative technology to improve member understanding, engagement and long-term retirement outcomes for its 7.2 million members.
Alongside the launch of the personalised video welcome, personalised video statements are now available to members directly through the People’s Pension app, making it even easier for members to access and understand information about their pension and track their retirement savings.
The latest enhancements form part of People’s Pension’s commitment to continuously improving member engagement through more personalised, accessible and engaging digital experiences. By investing in innovative technology and digital services, the scheme aims to empower members to take a greater interest in their long-term savings, build greater confidence in their retirement savings and make more informed decisions about their financial future
David Meliveo, Chief Commercial Officer for People’s Pension, said: David Meliveo, Chief Commercial Officer for People’s Pension, said: “I am delighted to see the way People’s Pension continues to engage with members, something our industry is in desperate need to do considering the low engagement we get from workplace pension savers. We believe that by making pension information personalised, relevant and accessible, we will be helping members better understand their savings, build confidence in their retirement planning and take greater ownership of their financial future.
“Integrating personalised video statements into our app is another important step in making it easier for members to connect with their pension whenever and wherever it suits them. We believe this deeper engagement can help drive better member outcomes over the long term. The personalised video welcome and video statements are designed to support members, both from the very start of their pension journey and throughout their saving lifetime.
“Over the last year, we have made a significant investment in our MarTech infrastructure and capabilities, and our journey to drive hyper-personalisation and multichannel engagement has just started.”
ENDS
Notes to editor:
1. People’s Pension has seen excellent levels of interaction from its members, including three times more email clicks, more than nine in ten members watching their video to completion, and two-thirds of members taking positive follow-up actions such as downloading the People’s Pension app or accessing further information. The initiative has also achieved an average rating of 4.8 out of 5.
Personalised video statements – available within the member portal – are available to approximately 95% of active People’s Pension members, except for members who have a pension pot under £50 or those who are already in retirement.
2. People’s Pension is the largest commercial master trust in the UK based on members, serving more than seven million pension savers across the UK and managing more than £40bn in assets. It is provided by People’s Partnership, a business without shareholders, it reinvests its profits with the aim to help customers and achieve better financial outcomes for everyone.
This assessment is determined by membership size. People’s Pension currently has more than seven million members, which, according to publicly available industry data, exceeds the membership of any other commercial master trust.
3. Video explainer: https://youtu.be/5m0sVKPsV4o