Heywood
Communicating pensions has always been a challenge. Annual benefit statements (ABS) and scheme updates are vital, but for many members the information is dense, jargon heavy and difficult to apply to their own circumstances. The result is that members are often left with more questions than answers, and those questions quickly translate into calls, emails and complaints that cost schemes both time and money.
The cost of poor engagement
Every call into an administration team has a cost. Before a member’s query can even be addressed, administrators must complete identity verification checks that can take several minutes. Add in the time needed to answer the question itself and even simple enquiries can quickly become lengthy and resource intensive.
When you multiply that across thousands of members, the scale of the challenge is clear. The time spent dealing with routine questions is time that could be directed elsewhere. These costs are avoidable when members receive communications that are easy to understand and tailored to their circumstances.
Heywood Pension Pulse has also highlighted how poor data quality magnifies the issue. Schemes are wasting an average of £7,176 per 20,000-member mailing due to inaccurate member details. That is money spent on communications that never even reach the intended member and a further drain on already stretched resources.
How personalised video helps
Heywood Video Engage is designed to simplify pensions communication. It transforms complex information into clear, personalised videos that can be tailored to each member. The figures shown in the video are drawn directly from their pension record, so members see their own pension pot, their own retirement options and their own next steps explained in plain English.
When members understand their benefits from the outset, they are far less likely to contact the administration team with routine questions. That frees up valuable resources, reduces the likelihood of disputes and ultimately lowers costs. Video also delivers in ways that printed statements cannot. Members can replay their video whenever they need to, share it with their partner or family, and interact with the content on a device that suits them. One customer has saved over £10,000 a year on the costs of producing, printing and posting paper benefit statements, and when asked, only 0.38% of members expressed a preference for paper-based statements.
Proven impact
The impact is already clear across schemes that have adopted this approach. The North East Scotland Pension Fund saw an 80% increase in engagement with ABS after introducing Video Engage. In wider deployments, 88% of members reported a better understanding of their pensions. That improved understanding means fewer calls, fewer complaints and more confident members.
Video also aligns with a broader shift towards digital preferences. Less than one per cent of members in recent deployments requested paper statements, demonstrating a clear appetite for digital-first communication. With postage and printing costs continuing to rise, this represents a direct saving for schemes and a more efficient way of keeping members informed.
Efficiency savings today, better outcomes tomorrow
The benefits extend beyond immediate cost savings. Reducing administrative burden allows teams to focus their time on higher value activity, while members gain confidence and clarity. Informed members are better placed to make decisions about their contributions, their retirement age and their long-term plans. That leads to improved member outcomes, which is the ultimate goal of every scheme.
The long-term value of smarter communication is significant. Each avoided call, each resolved question and each member who better understands their benefits contributes to a more efficient, sustainable system. Video Engage delivers cost savings in the present while also creating the conditions for better outcomes in the future.
For schemes facing rising costs and increased pressure on resources, the case is clear. Better communication is not only a way to meet member expectations, but also a practical strategy for reducing costs and improving efficiency.
Heywood Video Engage provides pension schemes with a modern, effective way to achieve both. By presenting essential financial information in a format that is clear, personalised and accessible, it empowers members to understand their pensions while helping schemes reduce costs and free up resources.
Clearer communication supports better engagement. Better engagement supports better outcomes. The future of member communication is personal, digital and efficient and it is already here.
