How employers and employees can use new technology to maximise defined contribution (DC) pension flexibilities will be discussed in a session at Employee Benefits Connect on 4 March.
In a session titled ‘Using technology to maximise new DC pensions flexibilities: helping both employers and employees’, Lee Hollingworth (pictured), partner and head of DC consulting at Hymans Robertson, will discuss how changing technology can play a part in educating pensions change and how it can help achieve better return on investment from employee benefit spend.
He said: “From April 2015, employees will have will have much more freedom in making decisions on pensions. This presents a major risk to employers in terms of workforce management, [because] it could have an impact on productivity, salary costs and bringing new talent in to the business, so it’s important for employers to understand the risks if it’s not managed properly.”
The session will also highlight a case study of an employer which has used Hyman Robertson’s Guided Outcomes (GO) analytics technology to help improve the organisation’s member outcomes.
It will also focus on the new retirement journey employees will now go through and inform delegates about how using a blend of technology and communications effectively can help deliver and manage change.
Nick Throp, co-founder and director of Like Minds, will speak alongside Hollingworth during the session, showcasing communication best practices. In October 2014, both organisations created a new joint venture aimed at bringing together their communication practices.
This will include how delegates should use words, pictures and ideas, making people think, feel and do and how these communications methods can help emphasise the benefits not the features.
Hollingworth said: “There are challenges and pitfalls that need to be consider. The new retirement journey gives employers greater opportunities to engage with members. Engagement is crucial to success.
“The session will highlight this and showcase how using technology such as GO can play a part in helping employers and employees through the change.”
Employee Benefits Connect 2015 will take place at the Lancaster London on 4 March.