Pensions

Retiring old thinking. Investing in ingenuity.

Financial services can change the world

How firms can accelerate the transition to more sustainable spending, saving and living
The Delight Dividend

Explore how we're reimagining customer experience in financial services

We believe in the power of ingenuity to build a positive human future in a technology-driven world.

For most people, a positive future includes a retirement where the basics are covered, health is protected and at least some of their lifetime dreams can be fulfilled. But actually achieving this will require a significant increase in the amount of money they save, as well as rational, well-informed decisions along their journey into retirement.

Overwhelming complexities of taxation, transparency of where money is being invested, myriad pensions from previous employers: all of this turns people away from even thinking about retirement. More than half of UK workers (54%) don't know the size of their pension pot. But with the right application of technology, all of this can be simplified. As a pension provider, there’s never been a better time to reinvent yourself.

54%

of UK workers don't know the size of their pension pot.

*Pensions and Lifetime Savings Assocation, Sept 2019.

44%

of UK millennials have no pensions provision.

*Bridging the Young Adults Pension Gap, YouGov, June 2017.

48%

of the pension plans accessed in 2018-2019 were done so without any financial advice.

*FCA, September 2019.

How we can help

Pension providers have an unprecedented opportunity to retire the old thinking that served them well in the 20th century and invest in the ingenuity that will see them thrive in the digital, agile age. We support pension providers through:

Focusing on the customer experience – designing tailored products, services and journeys that deliver an experience that the customer truly values.
AI and automation – enabling you to deliver an engaging, personalised experience by enriching your customer data with third party sources to power automated decision making.
Simplifying legacy – supporting your transition to modern, flexible technology through carefully managed data and service migrations underpinned by compelling business cases.
Sustainability – helping you embrace the commercial and ethical rewards of embedding sustainability in your business and your propositions as your customers become ever more attuned to ethical investments.
Introducing organisational agility – optimising ways of working and breaking down operational silos in support of the new customer experience, accelerating time to value and reducing cost to serve.
Financial crime and cyber transformation - protecting your customers’ money and data from the increased risk which stems from Freedom and Choice, increased digital access to your systems and fragile legacy systems.

PA had the skills and capabilities to help us at design and implementation stages, rolling their sleeves up and getting stuck in. This is what we needed – not just people sitting there producing lots of bright ideas.

Lesley Titcomb
CEO, Pensions Regulator

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