Are you saving into your pension plan?

A government-backed pension provider is trialling emotive messages to nudge sole traders to start retirement saving.

The messages from NEST aim to persuade the self-employed to sign up for pensions through payment or accountancy platforms or trade and industry bodies.

Four messages are being tested to encourage savings behaviour, including ‘could you save £2.50 a day?’.

‘Flexible pension options for the self-employed’ attempts to emphasise they can pay what they can, when they can.

Loss-avoidance messages, such as ‘a tax-free way to save for retirement’ and ‘don’t miss out on pension returns’, are the other messages being trialled. More…