A report recently issued by the Pensions Regulator (available here) showed that 2016 was the year when defined contribution (DC) schemes became the dominant form of pensions provision in the UK.

Total memberships in DC pension schemes have overtaken defined benefit (DB) schemes, with 55% of all private sector pension scheme members and 85% of active members being participants in DC schemes.

As specialists in pensions communications, it’s interesting to drill down into the data to see that almost all DC schemes (97%) have members aged over 50; in 2009 only two-thirds could claim this.

We think it highlights the importance of using targeted messaging for DC communications. After all, someone in their 50s needs very different messages to someone who’s just starting out in their career.

This is an area where we have a lot of experience selecting member groups and targeting specific communications to them. This can include targeting members in age or earnings brackets, at certain life milestones, after receiving a bonus, or in reference to changes they have made to, for example, their contribution rate or investment choices. If you’d like to know more, just get in touch.