At 7:40pm tonight, we will have a full moon. As it falls at this time of year, it is called the Harvest moon (or sometimes the Hunter’s moon). Other full moons at different times of the year are called Strawberry Moon, Sturgeon Moon, Beaver’s Moon etc. As you have probably guessed, it is named as Harvest Moon as the extra light generated by the full moon allows farmers to work late into the night. Similarly, the alternative name of Hunter’s moon is that hunters can spot more animals.
We should be doing the same with helping people to make proper provision for their retirement income. The annual benefit statement and the “wake up” pack are sent out once a year or the spurious date that your employer set as your retirement date. Pension schemes know a lot about their members; they know when they get married, they know when they change jobs, they know when they get divorced to name a few life events. Each of these life events provide a great opportunity to gently nudge people into the implication of the life event on their retirement plans.
We want people to engage more with their pension. Instead of sending them an abundance of communication on dates that suit us, we would reap the rewards from communicating at the life event.