August 08 2022 | Simon Miller
August highlight reel: Pensions Awareness Week
Every month I take the team at nudge through a concept related to financial planning and wellbeing and this month it was pensions.
The Atomic Weapons Establishment (AWE) is launching a new Financial Education programme for its employees in conjunction with Nudge.
AWE plays a crucial role in national defence having been at the forefront of the UK nuclear deterrence programme for more than 60 years. On behalf of the MOD, they undertake critical work, providing and maintaining warheads for Royal Navy submarines – everything from design and manufacture to in-service support and decommissioning.
AWE employ around 4,900 staff and operate across five UK sites. As well as a team of world-renowned scientists, engineers and specialists, AWE employ people in a diverse range of business roles such as administration, commercial, human resources and facilities management.
Chris Coyne, Head of Performance and Reward at AWE comments: “Attracting and retaining top talent is a strategic priority for AWE and for some time we have recognised the growing importance of Financial Education and Wellbeing. We employ a very diverse team of people from apprentices, to graduates, to highly experienced engineers and scientists and those in business roles. We’re keen to ensure that we can support all our staff by delivering the Financial Education that meets their individual needs, at a time of increasing complexity in the world of finance.”
Chris Coyne continues: “When assessing the market for Financial Education providers, Nudge stood out as offering the only service that was truly independent, with no products to sell, as well as utilising a personalised method of delivery. We are truly excited about the opportunities it will offer our staff to tailor their education to their specific lifestyle needs.”
Nudge will provide Financial Education to AWE’s people in two ways. Firstly via ‘nudges’ or nuggets of education. These ‘nudges’ work on the basis of a series of triggers pushing out education to AWE employees based on what ‘people like you’ are learning about, their interests, lifestyle choices or new legislation changes. They are automatically personalised according to employees’ demographics, salary and benefit choices. Secondly, employees have access to an online platform that enables them to access tools and articles on over 800 personal finance topics as well as the ability to configure their ‘nudges’, add additional information about themselves (e.g. partner’s income, adult dependants), and to set their financial Dreams and Goals.