The booklet is targeted to members who are within three years of collecting an unreduced pension. It gives them an overview of what they need to be doing with regards to retirement planning at this stage of their working lives. “We tried to provide the information they need, [including] retirement planning, how to apply for their pension and other things they should be thinking about,” she says. “This is an important milestone in a member’s lifecycle, and this booklet was done to strengthen communication at this milestone.”
The booklet also outlines items such as how and when to get a pension estimate, when members can retire and how a pension is calculated. It also drives members online for additional resources.
A feature that plan members and sponsors have commented on (and one that generated a lot of positive feedback from our judges as well) is the interviews with retired plan members—mini-profiles that give readers real-life examples and practical advice. Laurette Francoeur, former Toronto board of education employee, is one of the retirees who is featured in the booklet. When asked her advice on lifestyle planning, she said, “Keep in touch with your friends—your friends will keep you young. Keep connected by socializing with people who are still working.” Examples like this one makes the information more engaging and reader-friendly.
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The Benefits Canada Awards
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The booklet was a year in the making. Extensive research was done with plan members and employers to ensure that the booklet was indeed meeting members’ needs. Once the booklet was drafted, 127 members evaluated it. Eighty-three percent of members responded with positive feedback, and the evaluation results found that the booklet was “an informative, useful resource tool when planning for retirement.” Additionally, the team headed by Tomes held focus groups with plan members to get their input on the project. One of the tasks of the focus group was to circle words or phrases they didn’t like or didn’t understand. Once the focus group feedback was incorporated, the booklet was piloted with employers, which also gave feedback. “The biggest challenge was getting the right information in the booklet. You want to provide [members] with enough information, but you don’t want to overwhelm them,” says Tomes.
The final product was launched in early 2008 and is now in regular use at all one-onone sessions, available on the website and mailed to each of the members in the target group. “We must be proactive and give [members] the information they need when they need it, rather than making them do all of the work and come to us,” says Tomes.
More than 7,000 members have now received the booklet, and that number will continue to climb as more people enter the later stages of retirement planning. The process and results of the project demonstrate that thorough and timely plan member communication does indeed rank high at OMERS.
April Scott-Clarke is assistant editor of Benefits Canada. april.scottclarke@rci.rogers.com
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