Case study on member engagement: NatWest Retirement Savings Plan's deliberative democracy project

In 2024, around 89% of eligible employees were saving into a workplace pension, representing an important rise from previous years. Despite this progress, levels of member engagement remain low, which is amplified by the fact that automatically enrolled employees generally show lower pension engagement than those who have opted in voluntarily.

Government and previous publications argue that increased member engagement could help to deliver
better retirement outcomes and financial wellbeing. However, 51% of adults with at least one active defined contribution (DC) pension still present either low, or very low, levels of engagement. This raises an important question: how can pension funds effectively and meaningfully increase member engagement?

To explore this issue, we have put together a case study showing how the NatWest Retirement Savings Plan, through its ‘deliberative democracy project’, turned insightful sessions with members into guidance for their trustees’ strategy.