Rethinking the member journey
HSBC Bank (UK) Pension Scheme wanted new members to quickly grasp the key features of the Scheme and how it worked. A survey showed that the existing practice of referring them to the full member guide was not effective. Ferrier Pearce was appointed to create a new communication to help new members quickly and easily understand the Scheme and start making the most of their membership.
The challenge was to create a short, engaging communication to give new members just enough information to get them started in the Scheme, without overloading them with too much detail. Our approach was to reimagine the concept of the 'Quick Start' guide that often comes with consumer products, for example, mobile phones or digital radios. The guide describes clearly, and in a very visual way, the three stages of Defined Contribution (DC) membership and the decisions the member needs to take at each stage. This was subsequently complemented by a short video presentation from the Chief Investment Officer explaining in more detail 'What is a Defined Contribution pension pot?'. This included animated graphics from the Quick Start Guide.
The administrators are finding increasing numbers of new members taking the initial steps to make the most of their pension – for example, actively deciding where to invest their pension pot. The visuals have been used subsequently in other communications.