The first iteration of a new pensions engagement campaign created by the Association of British Insurers and the Pensions and Lifetime Savings Association will run from September to November.
Titled the Pension Attention campaign, the initiative first announced in April is supported by 17 pension providers and schemes and aims to help more than 30mn pension savers.
With the slogan “it’s time to pay your pension some attention”, the three-year campaign aims to “break through the public’s lack of interest and make pensions a talking point for people going about their everyday lives,” the industry bodies stated.
The ABI and PLSA noted that despite previous efforts by the industry, government and money guidance bodies, engagement with pensions remains low.
They added that over half of the public struggle to find their pension information and only 20 per cent are confident they’re saving enough for retirement.
Pension Attention campaign manager Sarah Cordey said: “There are a thousand things competing for people’s attention right now, which is why we’re ready to shout louder: It’s time to pay your pension some attention.
“Money you put into a pension is yours to use in the future, and for most people it’s boosted by your employer and the government.
“We want to help everyone understand where their money is and the simple steps they can take to keep track of it.”
According to the Lang Cat director of public affairs Tom McPhail the “consequences will be disastrous” if ordinary people do not get involved “to some degree with their own retirement planning”.
“A coordinated campaign, with everyone including the industry, government and Money and Pensions Service all working together makes a lot of sense and the slogan ‘pay your pension some attention’ is a good one.”
The companies acting as sponsors for the campaign are Aegon, Aviva, Cushon, Fidelity, Legal & General, Nest, Now Pensions, Pru, Royal London, Scottish Widows, Smart Pension, Standard Life and The People’s Pension.
Supporting the campaign are Hargreaves Lansdown, Railpen, the Universities Superannuation Scheme and Just.
Maria Espadinha is editor at Pensions Expert, FTAdviser's sister publication.