To help consumers understand the importance of employer contributions NEST has launched a video on their social media channels. The video focuses on a day in the life of a worker who gets a ‘helping hand’ from their boss.
Graham Vidler, director of communications and engagement at NEST, said:
‘We recently announced that NEST has reached 100,000 members and is working with over 300 large employers in the first stages of automatic enrolment. The NEST scheme currently has opt-out rates below 10%, which is lower than expected and a sign that the majority of workers understand the benefits of saving in a pension. Our research amongst consumers tells us that the value of their employer’s contribution and the simple reassurance of knowing they have something put aside are key motivators, with 67 per cent agreeing it would mean they could stop worrying that they hadn’t done anything about their retirement.
‘This insight and the current low opt-out rates, are promising,’ says Graham ‘although our research also suggests that half of unpensioned workers claim to have only a basic knowledge of pensions. Our big challenge, as an industry, is to make sure that workers understand the benefits of employer contributions and recognise them for what they are – a helping hand from your employer to save for your future. Combined with tax relief, they can double the value of an individual’s contribution.’
‘The video is designed to help workers realise that automatic enrolment means your employer is required to give you a helping hand to save for your future. With tax relief and employer contributions, it means that tomorrow really is worth saving for,’ he says.
Watch the video here:
http://www.youtube.com/watch?v=gXfHHrv8S30
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