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L&G pilots mandatory workplace pension education during work hours
The test will compare a required training group with a voluntary group on whether employees check balances, review contributions, and use retirement planning tools.
Legal & General has launched a pilot to test whether requiring employees to complete pension education during the working day boosts engagement with retirement savings compared with offering the same support voluntarily, according to Coverager.
The Building Future You pilot splits a sample of L&G employees into two groups, with both receiving short video modules and a digital quiz to identify pension priorities and next steps. One half must complete the learning as workplace training, while the other half has voluntary access.
L&G plans to compare whether participants check their pension balances, review their contributions, and use retirement planning tools. The effort is intended to inform L&G’s future employer support and wider policy discussions.
Coverager notes the pilot follows research that 41% of people aged 40 to 54 with a defined contribution workplace pension had not interacted with it in the past year, and 25% could not estimate how much they had saved.