There will be a lot in the pensions press over the next few
weeks relating to the New Year. A New Year goes along with New Year resolutions
and wishes.
In pension terms, wishes are likely to revolve around simplified administration, easier investment access to difficult products and a plea to the politicians to be left alone. Some wishes may get granted- the current initiatives relating to data management are both welcome and likely to succeed. Investment products will simplify. And possibly – possibly – the Chancellor has enough on his plate not to interfere further in pensions.
The missing wish, though, is always there. Every year. Better communications. Too many people don’t know enough about their pension. Too many people without a pension are not concerned enough to do something about it.
About now, with New Year resolutions in mind, the pension manager is returning to work and budgeting to communicate more efficiently. Maybe some focus groups. Maybe a survey. Maybe different methods of communicating including print and electronic.
Somewhere around mid-February, reality and the new budget process sets in and the dreams are forgotten. Another year of ‘doing what we’ve always done’ at as low a cost as possible.
So here’s a New Year wish. Please keep communications in your new year budget. Budget to use some pension communication experts. And change next years’ wishes.
In pension terms, wishes are likely to revolve around simplified administration, easier investment access to difficult products and a plea to the politicians to be left alone. Some wishes may get granted- the current initiatives relating to data management are both welcome and likely to succeed. Investment products will simplify. And possibly – possibly – the Chancellor has enough on his plate not to interfere further in pensions.
The missing wish, though, is always there. Every year. Better communications. Too many people don’t know enough about their pension. Too many people without a pension are not concerned enough to do something about it.
About now, with New Year resolutions in mind, the pension manager is returning to work and budgeting to communicate more efficiently. Maybe some focus groups. Maybe a survey. Maybe different methods of communicating including print and electronic.
Somewhere around mid-February, reality and the new budget process sets in and the dreams are forgotten. Another year of ‘doing what we’ve always done’ at as low a cost as possible.
So here’s a New Year wish. Please keep communications in your new year budget. Budget to use some pension communication experts. And change next years’ wishes.
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