Applying Behavioural Insights to Green Pensions
A report on Defined Contribution pension members’ engagement with environmentally sustainable pensions (green pensions).
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Research background
We commissioned this report to understand pension members’ understanding, attitudes and behaviours in relation to engaging with green pensions. This was followed by experimental testing via Randomised Control Trials to understand what communications are most effective in encouraging greater engagement with green pensions.
The report includes findings on:
- awareness of pensions generally and green pensions specifically
- barriers and facilitators to green pensions engagement
- potential interventions to increase engagement with pensions and sustainability
Contribution to the evidence base
This research contributes to a better understanding of behaviours related to the environmental sustainability of pensions and whether individual pension holders are engaged with the possibility of directing their savings to more sustainable investments. This contributes to the evidence on green pensions and net zero. In addition, the research adds to the pension engagement evidence base, exploring members views and attitudes to pensions and the most effective ways of designing communications to help engagement and action.
Research value
These findings are a valuable addition to the Department’s evidence base on pensions engagement, such as on understanding member engagement with workplace pensions.