After-lunch webinar – Inka Eberhardt – Choice Architecture and Pension Communication in Australia, Denmark and the Netherlands

Complexity and individualization of pension systems has risen over time, increasing the number of choices pension savers can take within pension systems. Pension communication depends on, and interacts with, a pension system’s choice architecture. The more choices available in a system, the larger is the potential influence and importance of pension communication. This project examines the role of pension communication to address pension system complexity and improve member outcomes in three steps. First, we compare pension communication legislation and practices in Australia, Denmark, and the Netherlands, countries with top-ranked pension systems. Second, we analyse the effect of pension communication on choice behaviour by critically reviewing the academic literature to find out what works and does not work in pension communication. What is the effect of pension communication on retirement planning? In what circumstances has pension communication been shown to influence

decisions and plan participant outcomes? Is the effect dependent on characteristics of the

pension system? With this step, we try to identify best practices in pension communication. Lastly, we develop an agenda for further research, acknowledging recent policy changes and reforms in Australia and the Netherlands.