The provider has commissioned customer-led research in a bid to create a consumer-centric experience for scheme members who want to find out more about their pensions.
NU says its new Pension Tracking offering includes genuinely innovative technology, dubbed VOG-casting, which stands for ‘virtual online guide’. This involves a moving image of an actual individual walking around a webpage. The actor, dubbed Lisa for the purposes of the campaign, operates as a video guide through the process which allows members to change asset allocation and increase savings rates online.
The offering also includes a stochastic modelling tool that uses a ‘beam of light’ to illustrate a range of probable investment returns.
Pensions Tracker is available on all new group and individual pension arrangements now and will be rolled out to all existing clients in the coming months.
NU head of pensions Iain Oliver says: “We have asked around the market and believe that using an image of an actual human on a web page is genuinely groundbreaking. The feedback from the testing that we have carried out is that members find this system very engaging indeed.”