The UK “has a lot to learn” from international pension engagement campaigns, the Pensions Policy Institute has said.

According to the PPI’s Consumer engagement: lessons from overseas, international examples of policies designed to encourage engagement paper, published today, the body found that there are considerably effective examples of pension engagement from overseas that the UK can learn from.

Overseas evidence highlighted that clear campaign objectives around the financial needs of target groups are essential to provide a consistent link between the information given and positive behavioural change.

PPI Senior Policy Researcher Priya Khambhaita, said “The UK has a lot to learn from international examples. This research found that pension engagement campaigns are far more effective when they vary in format, channel and delivery method between groups, directly match the target population’s existing financial and digital literacy levels, and are phased, consistent and sustained over time."

Moreover, the research found that on the whole, pensions engagement is achieved when pension information is communicated as part of overall finances in order to “enable individuals to better understand their overall financial solutions” and retirement plans, rather than discussing pensions information as an isolated area.

In addition, the PPI noted that: “A holistic approach to communications can help overcome initial hurdles to engagement with pensions.

“International examples of engagement policies provide evidence that will be useful to UK policy-makers and others who engage directly with consumers around pensions. Lessons from overseas should be able to inform and strengthen the pensions engagement agenda within the UK,” Khambhaita concluded.

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