RPM has increased the number of employees contributing to its group personal pension scheme (GPP) from 22% to 72% after introducing software that enables them to manage their fund online.
Previously, employees were sent annual pension reports for the marketing agency’s GPP but they now have complete control over when and where they can check value of their pension online. The software also gives employees the control to adjust the contributions they make to their pension pot.
Yalda Richardson, head of HR, said: “We have helped our young workforce understand the importance of pensions and take a bit more responsibility for their futures. With our new system, staff can now manage their pension and other benefits online. If they have a change in salary they can adjust their contributions immediately [or] if they get a bonus for instance, they can adjust their contributions immediately.”
Consultancy Foster Denovo helped the agency to revamp its pension scheme and communicate the changes to staff with regular face-to-face briefings.