Pharmaceuticals: Pensions engagement

An excellent partnership…very professional, responsive and a pleasure to work with.

The ask

Our client had recognised that their final salary pension scheme was not sustainable and decided to consult on closing it
They recognised that this decision could cause worry and stress among employees
The trustees had already prepared comprehensive information for employees
However, they recognised that pension information can be complex and difficult to understand
Our client wanted to ensure that employees fully understood the information so they could make an informed decision
Impartial education and an independent voice was very important to our client to help employees decide for themselves

Provide peace of mind by explaining to employees exactly what these changes meant for them
Bring the issue to life with live forums and Q&A
Enable employees to book and attend events easily
Ensure our delivery met the very high standards set by the client

Designed bespoke content addressing the change, reasons why, what this meant for employees, the new defined contribution pension and explained the actions required by colleagues
Delivered a programme of live webinars to give employees the opportunity for Q&A
Employees given the opportunity to share their concerns and questions
Webinars recorded for those unable to attend

Over 1,900 employees booked to attend a live webinar – 38% of their workforce
Demand for our webinars was so high, we added additional sessions, both pre- and post-consultation
We received 588 questions from employees about the changes. These were fed back to the client in order to include within their consultation process
Employee feedback on webinars: "very clear and easy to understand, questions were well handled." “Thank you so much for answering my questions”
Our client was delighted - they felt our independent voice allowed employees to receive an unbiased message about the changes and options, and helped to allay concerns about the process
Feedback on Close Brothers from our client's senior rewards team "an excellent partnership…very professional, responsive and a pleasure to work with"
This exercise was so successful it led to a wider financial education programme, helping their colleagues to raise financial awareness and how to use their employee benefits to support and improve their wellbeing