This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
Money Marketing Cover
Categories:Pensions

Actuaries set up group to improve product information

  • Print
  • Comment

An influential group of actuaries is calling on the financial services industry to re-evaluate the product information sent to customers as part of a drive to improve engagement.

The Institute and Faculty of Actuaries has set up a consumer information working party to challenge the financial services industry to think about the information consumers of financial products receive and how it could be improved.

Ideas put forward by the working party include encouraging providers to communicate progress relative to consumers’ savings goals, communicating risk and reward by referring to the product’s chances of achieving the savings goal, keeping communications concise and easy to digest and promoting simple rules of thumb for saving.

Better Retirement director Billy Burrows says: “The suggestions put forward by the working group are a practical and workable way of improving how we communicate to customers.”

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick



Poll

Do you agree with calls for a flat 30% rate of pensions tax relief?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments