A series of behavioural trials run in conjunction with pension providers has resulted in an increase in Pension Wise use but the results are just a “starting point” for more work on the issue.
The research - which tested two different ways of signposting the Pension Wise service - found about 11% of people used the guidance service within the next six weeks. This compared to 3% of customers in the control group. The research was conducted by the Behavioural Insights Team on behalf of the Money and Pensions Service (Maps). It tested two potential routes when customers asked about accessing their workplace pensions - either offering to make a Pension Wise appointment for them or transferring them the service directly to arrange a meeting. Aviva, Hargreaves Lansdown and Legal ...
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