Financial advisers call for new approaches to engage younger pension savers 

Nearly three quarters (74%) of independent financial advisers (IFAs) say DC pension providers need new ways to engage younger generations, reflecting growing concern that traditional approaches may not fully connect with those at the start of their savings journey.

The new research from People’s Pension shows that the challenge extends beyond initial engagement. Almost two thirds (63%) of advisers believe providers should do more to help savers make informed decisions earlier, highlighting the importance of support well before retirement comes into view.

Expectations also continue into later life. Over half (51%) of IFAs say providers should play a more active role in helping members manage their money once they retire.

When asked what DC pensions should offer, advisers highlight the need for practical, accessible tools that support better decision-making. Digital member platforms (41%), improved data and reporting (39%), and integrated retirement and decumulation tools (38%) are among the most cited priorities, alongside more personalised communications (34%).

The findings come as People’s Pension calls on the industry to move beyond traditional communication approaches and adopt new ways of engaging savers earlier in their journey. This includes reaching audiences in more relevant, everyday contexts and making pensions easier to understand and act on.

Stuart Reid, distribution director at People’s Pension, said: “What this research shows is that expectations are continuing to evolve. Advisers want to see support start earlier in the savings journey and continue through retirement, alongside practical tools and reliable service that help members make informed decisions at each stage.

“This is very much in line with what we are seeing in our recent webinar series, Pension Talk. Whilst in the past younger employees were often less likely to participate in pension discussions, as they felt the core questions were more relevant to colleagues nearing retirement, that is now changing.

“We are seeing much stronger interaction and participation from younger employees, along with a growing understanding of the importance of getting started early. That will have a meaningful impact on their long-term outcomes, and it is encouraging to see.”