Our defined benefit pension clients sometimes challenge us to pull rabbits out of hats.
Complex situations, tight deadlines, and high stakes are all part of the job. Here are 6 times when we worked a bit of magic and turned tough challenges into success stories.
1. Launching a whole new benefit structure
Imagine a large, already complex hybrid pension scheme being completely overhauled. Members had to navigate a new benefit structure and make significant decisions about their future pensions. It was important that members engaged in this process. The client expected 30% engagement and hoped to hit 50% if all went well. Our approach focused on making complex choices simple, clear, and relatable. The result? A remarkable 77% of members engaged – far exceeding expectations.
2. Asking members to take a hit to save the scheme
Sometimes, tough situations require even tougher conversations. In this case, historic admin errors meant some members were entitled to extra benefits. The problem? If they took those benefits, it could sink the entire scheme. We needed to explain the situation honestly, emphasising the wider impact on everyone involved. Incredibly, 80% of members agreed to give up the extra money, protecting the scheme and saving £35 million in unplanned liabilities.
3. Calming members after a failed buyout attempt
Buyouts can be tricky. When this scheme’s first attempt at a buyout failed due to member resistance, trust was low, and tensions were high. The client asked us to step in and help them have another go. We created clear, calm communications that carefully outlined the benefits of the buyout while addressing member concerns head-on. The result was a more informed membership, fewer complaints, and a successful second attempt.
4. Explaining why future accrual was being cut
When the decision was made to cut future accrual rates, the task of communicating this unpopular change felt daunting. We had to balance the needs of multiple senior stakeholders while creating a narrative that members would find fair and understandable. As the client put it, “It felt like an impossible task… but having an experienced specialist partner involved, and for it to be handled really well, has given our project a lot of credibility.” The carefully managed process meant difficult messages were delivered with minimal backlash.
5. Creating the UK’s first-ever GMP equalisation comms
GMP equalisation was a big moment in the pensions industry, and when the 2018 ruling came through, there was widespread uncertainty. Our job was to help members understand what it meant for them. We broke down the complex ruling into simple, digestible messages that managed expectations. Despite coverage in the national press, our clear communication meant the client received almost no enquiries from members – a testament to the power of getting the message right the first time.
6. Helping members choose between the PPF and a new scheme
Over 100,000 members were faced with a significant decision: stay with the Pension Protection Fund or transfer to a new scheme. The scale of this engagement was huge, and the stakes were high. The client hoped that 50% of members would actively choose, which would have been a solid result. Our campaign didn’t just hit that target – it smashed it, with 80% of members making an active choice.
These examples show how the right communication can transform complex challenges into clear paths forward. If your pension scheme needs some communication wizardry, we’d love to talk.
