Employee interaction with their pension has increased since Kingfisher introduced gamification, says Helen Swire
Kingfisher’s pension plan, administered by Zurich, stands out for employees for several key reasons, according to Dermot Courtier, head of group pensions.
As well as an employer-matched – and generous – contribution structure, and a death-in-service benefit, colleagues at Kingfisher are also supported through ‘Smart Contributions’ – pension contributions processed through salary sacrifice.
Courtier says it’s about the bigger picture: “Our colleagues know us for our educational material and raising awareness.”
Using web, email, internal newsletters, posters and information packs, Kingfisher actively encourages staff to save – and attracts the attention of the younger staff through a pensions app, Bolt to the Finish.
As a result, employee interaction has grown since auto-enrolment began in 2013, and which was followed immediately by the launch of this five-year education campaign.
Employee feedback shows that the communications are encouraging them to take an interest in their retirement arrangements. Crucially, the communications are clear and jargon free.
Courtier says: “Of our employees, 72% have read our leaflets and been encouraged to think more about their retirement arrangements.”
This article originally appeared on sister magazine Reward-Guide.co.uk