At the Pensions Insight DC Awards, the Telefónica Pensions team wins the 2016 best pensions communications strategy
The Telefónica Pensions Team has been working tireless throughout 2015/16 to help support both active and deferred members to have all the tools and contacts they require to make the most informed decisions regarding their pension savings and retirement choices.
This year the Pensions team has reviewed the employee journey and considered how we can build members awareness of the importance of saving for their retirement.
A new Pension comms theme was adopted for 2016 to help members relate to the company’s communications and recognise their messaging, e.g. a ‘hoarders theme’, with a squirrel collecting nuts or a bird building its nest egg. This followed nicely from the animal/ safari theme which the wider reward team use for their flexible benefits.
The Pensions team completed a number of communication initiatives such a ‘top of band communications’ where the team designed personalised emails to hundreds of individuals who were currently contributing at the top of their contribution band e.g. 5 or 8% employee contribution. The purpose of the communications was to highlight how employees could receive an additional 3 or 2.5% of respective employer contributions by increasing their contributions by just 1%.
The team’s bonus sacrifice comms resulted in a significant increase in people allocating their bonus into their pension. Targeted communications and a refreshed Telefónica pension's website also resulted in over 50,000 page views over the past year.
The Pensions team will look to build on their success of winning the best pensions communications strategy when considering our approach to communications for 2017.