Plan members say diet websites are frustrating

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The majority of pension plans fail to provide proactive advice, and many have made it difficult to find the information users seek on their websites and mobile apps, according to JD Power’s latest study on digital pension satisfaction. retirement.

The study found that only 24% of retirement investors strongly agree that their provider offers proactive advice and support, while less than half of participants (43%) found it very easy to find the information they were looking for on their pension plan’s websites and mobile apps. .

“Many of these providers have invested heavily in developing digital content and tools to provide education and guidance, but if participants are unfamiliar with these resources or cannot find or use them easily, it is a huge missed opportunity, ”Mike Foy, senior director of wealth management intelligence at JD Power, said in a statement.

Among the companies surveyed, Charles Schwab ranked first in digital pension satisfaction with a score of 725 on a 1,000-point scale, followed by Bank of America (formerly Merrill Lynch) with a score of 703 and AIG Retirement Services with a score of 699.

The study’s best and worst performers were separated by nearly 100 points, “setting the stage for a new battle for the hearts and minds of retirees taking place in the digital world,” according to the JD Power study.

[More: Are retirement plan providers ready for the next 9/11?]

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