Workplace schemes mandated to 'nudge' members into pensions guidance

In a policy statement released on Wednesday (28 October) the government outlined its findings and conclusions from its test of scheme members' take-up of free Pension Wise guidance. A three-arm randomised controlled trial (RCT) was conducted over 19 weeks between October 2019 and February 2020 on a representative sample of 4,135 defined contribution pension holders who called participating pension providers Aviva, Hargreaves Lansdown, and Legal & General within the trial period to ask about pot access. The research looked to shed more light on why free guidance up-take is low, and fou...