TEN-1718-008 Member VoC and Consumer research

Tender description

NEST was established to ensure all employers had access to a good quality low cost pension scheme which they could use to fulfil their duties under the automatic enrolment legislation. Since the onset of these duties in 2012 NEST has grown exponentially and we now have over 400,000 employers using the scheme, more than 5 million individual members and nearly £2 billion in assets under management. As small and micro employers continue to stage through 2017 and into 2018 the number of employers using the scheme and individuals becoming members continues to grow. Research and insight has been central to the development of NEST. Automatic enrolment as a policy is underpinned by insights from behavioural sciences and NEST has continued to place great emphasis on ensuring we understand our current and future customers. As the automatic enrolment programme has progressed so has our research programme. Moving from product development, branding and propositional research to more recently the establishment of a Voice of the Customer programme which aims to monitor customer experience and help drive product improvements. This Voice of the Customer programme focuses on three key customers groups: • Employers who are setting up and using the scheme • Intermediaries (such as payroll providers, accountants and IFAs) who act on their clients behalf to set up and use the scheme • Members - individuals who have been enrolled into the pension scheme by their employers So far there has been an understandable focus on the experience of employers and their intermediaries given the challenge of establishing a pension scheme capable of dealing with the large volume of employers likely to use it. We will be issuing a brief later in the year covering elements of Voice of the Customer programme related to employers and intermediaries. This research brief focuses on research requirements related to our members and the wider target market for automatic enrolment. As the process of staging draws to a close our focus is beginning to shift to our members. As part of this increased focus on our members we have recently been refining our member strategy. As we begin to implement recommendations from the strategy tracking member experiences, understanding their attitudes and perceptions will become increasingly important. Please refer to the ITT for more information.