Aegon’s Member Insights tool, empowering employers and advisers to get a better view into their workplace pension schemes, has launched three new key enhancements.
The dynamic governance tool offering detailed insights and scheme analysis now additionally offers:
- A new ‘Deferred members’ section covering in more detail the deferred membership of the scheme. This will be of value to trustees of trust-based schemes where they have ongoing obligations to their deferred members.
- An enhanced ‘Industry comparison’ section with scheme average compared to industry averages across a wider range of data.
- A new ‘Gender pension gap’ section pulls together in one place four key metrics with an age and gender split.
Aegon’s Member Insights digital tool, launched five years ago, allows employers and corporate consultants to see scheme specific critical information such as: fund performance, service standards and member outcomes, detailed information about members’ savings levels and potential retirement income.
It also enables them to put insight into action by launching targeted email campaigns to the entire scheme or to specific members of a scheme.
Aegon Member Insights campaigns have already achieved engagement rates of over 40 per cent, well above the industry average.1
The tool’s enhanced offering now makes it even easier for employers, trustees and advisers to monitor and improve member outcomes.
This enhancement is the latest in Aegon’s journey of transformation, investing in technology and automation to deliver a modern, easy-to-use, digital platform for employers and scheme members.
Nick Roy, Director, Client & Partnership Development at Aegon, said:
“Good scheme governance is a priority for all employers. This can be hard work and time consuming for all involved, however the support offered through this innovative tool can make this so much easier.
“Aegon’s enhanced Member Insights tool does a lot of the heavy lifting for the Trustee Board and employers, but more importantly offers a deep and detailed view into how their members are contributing to and engaging with their savings.
“This insight makes the challenge of around effective scheme governance much more manageable.
"As employers increasingly focus on supporting their employees to close the Gender Pensions Gap, the enhanced Member Insights tool now helps to identify areas and take action to close this gap.
“This is just the first set of deliveries as part of a series of ongoing enhancements – with more to come that will enhance Member Insights and add value to our overall Workplace proposition.
“Aegon’s Workplace platform offers retirement solutions for employers and already occupies a top three market position in terms of winning new business – and the enhanced Member Insights tool makes our propositions even more appealing.
“We are focused on making pension savers experience easier and better. Superior digitalisation and automation of our retirement proposition makes the employer and adviser offering even stronger.”