B&CE's Jamie Fiveash speaks to Deputy Editor, Ian Smith at SchemeXpert regarding financial education and what the best approaches are to encourage people to save.
The discussion details various methods in which members of pension schemes can be educated, including a more face to face approach and not relying on employers and employees to always have to read and educate themselves. Hosting seminars and webinars are a good way to engage and as stressed by Jamie Fiveash, having someone at the end of the phone to encourage a better understanding is paramount and is what works well for B&CE's customers. He also touched on the need for simplification of messages to make sure people fully understand that it "pays to save" and that they realise the reasoning behind the regulation.
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