Moog Controls boosts pensions engagement

Moog-offices-2015

Moog Controls has boosted pensions engagement by more than 150% through its bespoke financial education workshops.

The manufacturer of precision motion controls organisation, which helped design the Wimbledon electric roof, focused its education on helping employees make more informed investment decisions.

It ran four interactive pilot workshops, provided by Jelf Employee Benefits, which 70 of its 1,200 employees took up.

As a result it has seen an uplift in engagement with the total number of logins to its My Reward pension platform increasing by 150% year on year.

It also saw a 109% increase in the total number of unique logins to My Reward year on year.

And the organisation saw a 143% increase in staff making changes to its pensions month on month.

The workshops comprised mixed levels and different age groups at its Tewkesbury site (pictured).

Its key objectives driving the financial education were to help employees understand how their pension scheme works, and give them the motivation to make the decisions they need to, such as choosing investment options and monitoring performance.

The course included details on key areas staff needed to understand, including pensions freedom changes, auto-enrolment, how investing in a pension works, potential mistakes, lifestyling and risk versus reward.

Moog Controls now plans to roll out more workshops over the coming months to go into specific areas in more depth, including particular decisions that employees closer to retirement will need to make.

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Helen Buckland, UK compensation and benefits manager at Moog Controls, said: “Pensions are a big investment for our organisation and we want our staff to appreciate their value. 

“Feedback [has been] excellent, 100% of [the] employees said the course was ‘clear and relevant’, and we’re looking forward to working on more education courses.”