More customisation needed in Dutch pensions communication
Written by Tineke de Vries
The Dutch pensions sector has started to communicate so much better during the past few years, that the compulsory Uniform Pension Insight is no longer needed, according to Leo Lentz, a professor in communication sciences.
Speaking to the magazine of the Pension Federation, Lentz says the latest version of mijnpensioenoverzicht.nl (mypensionoversight.nl) is bridging the gap between lower and higher educated members.
“That the update further improves the communication for the lower educated but retains the same level for the higher educated, is quite an achievement. It is great that pension funds and insurers are working together, providing data and ensuring that everything is presented in a clear manner.”
The professor said that the pension industry takes communication seriously. “The sector invests in research and has an open discussion about how things could be improved. Many industries have a very different view, where they say: those researchers in their ivory towers do not understand how complicated it is. The pension sector is open-minded.”
The communication has improved so much, that the Uniform Pension Oversight is no longer needed, according to the professor. By taking a few steps back, the sector could stimulate innovation in pensions communication.
Customisation is needed to improve the pensions communication further, Lentz believes. He wants to get rid of generic letters about changes in the pension age and calls on the sector to approach young and old people differently.
“For someone who is about to retire it is more important to know the state of their pension savings than for someone in their twenties. It is better to inform younger people of the importance of a pension as an employee benefit and that the employer contribution is more than an iPad or laptop.”