More than 98% of Standard Life employees have made an active choice about their preference between two pension alternatives following DVD and website communications.
These methods were used to communicate a choice Standard Life's pension scheme members were required to make between two pension alternatives, which will impact on how their pension is determined from 1 January 2008. A DVD and dedicated website were used to enable members to identify which option is likely to best suit them and, if needed, the 6,000 members also had the opportunity to meet with a consultant face-to-face to model their own circumstances in more detail.
Feedback from staff showed more than 90% said the help was worthwhile and that they better understood the decision they needed to make. Having used the multi-media material, less than 3% of the members felt they needed a face-to-face meeting with a consultant, while more than 98% of staff made an active choice on their pension options.
Lane Clark & Peacock consultants carried out the face-to-face meetings and LCP worked in partnership with Anthony Hodges Consulting to produce the DVD and website.†