Throughout 2021 and early 2022, we engaged with plan members to understand their expectations, values, and priorities about two core aspects of their pension journey – member experience and the investment of their assets. The collective dialogue helps us build to meet members’ needs and helps inform our strategies and foundations.
Engagement and consultation remain core aspects of our member relationship.
Member experience survey highlights
Total responses
Written comments
Completion ratio
Takeaway #1
Plan member values and preferences
Clear, straightforward communication is the top-cited customer service value.
Service values
of participants are interested in learning more about their pensions, with preference for self-serve information and tools.
When it comes to managing their financial plans, plan members value independence. The vast majority of plan members want to know advice is available when they need it, but ultimately want to have the knowledge and tools to make their own decisions.
Plan values
Takeaway #2
Retirement experience and sentiment
of respondents consider UPP to be their primary source of retirement income, with 68% of participating retirees feeling financially secure in retirement.
Alternatively…
of active plan members feel somewhat or not prepared for retirement, indicating an opportunity for further education and support.
Overall…
UPP plan members cite “secure”, “financially sustainable” and “enough to live on” as the most important things about their pension.
Takeaway #3
Plan member services and tools
At the Forums, leaders from our investment team addressed pre-submitted member questions, previewed elements of our developing Climate Action Plan and used live interactive polls and Q&A to engage in live dialogue with the roughly 600 attendees.
Responsible investment survey highlights
Total responses
Written comments
Completion ratio
Takeaway #4
Responsible investing priorities
of respondents expressed the view that ESG factors should be prioritized by UPP.
of respondents expressed a desire for UPP to keep pace with other pension plans in terms of ESG goals.
#1 priority
Combatting climate change arose as the #1 priority for responsible investing, followed by protecting human rights and good ethics and governance.
Top 5 priorities of a responsible investing approach
Takeaway #5
Responsible investing approach
of respondents prefer UPP to be flexible on investing in companies with net-zero commitments.
feel that a mix of setting hard lines and engaging for change makes the most sense.
More than half of respondents prefer UPP to invest in companies that are leaders on ESG issues.
Takeaway #6
Responsible investment education
Responsible Investing brings out a highly engaged section of UPP’s membership base with…
indicating interest in how their pension is invested
And…
interested in learning more about UPP’s investment approach
However…
describe themselves as only somewhat or vaguely familiar with responsible investing, suggesting a desire for more education on the topic.
of plan members would consider participating in a Responsible Investment research partnership.
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