EXCLUSIVE: Boodles has seen almost a quarter (22%) of its pension scheme members increase their contributions following the launch of a workplace savings platform.
The platform, provided by Hargreaves Lansdown, offers staff access to a group self-invested pension plan (Sipp), a cash individual savings account (Isa), a stocks and shares Isa and an investment account.
The British fine jeweller has also achieved high levels of engagement with members’ investments and retirement planning.
Since the launch ahead of its auto-enrolment staging date in February 2014, 69 employees have joined the scheme, representing 96% of eligible staff.
In addition, more than a third (35%) of members have made active investment selections.
Employees can now log in to view their Sipp online, as well as manage investments and make additional contributions.
The pension can also be managed through iPhone, Android and iPad applications.
An average of 20% of members log in to their investment accounts every month.
Communication
Hargreaves Lansdown hosted a series of one-to-one meetings with employees to communicate the scheme across a number of the organisation’s stores.
As well as staff meetings, Boodles also used an interactive online brochure for its employees.
Paula Reader, human resources manager at Boodles, said: “It was very important for us that Boodles’ employees not only benefited from a good-quality retirement service, we also wanted them to be given every opportunity to take control of their own retirement and investment plans.”