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Educate and motivate

Findings from 2021 Lincoln Retirement Power® Study

Knowledge can help improve confidence and drive engagement. As employees look for a fresh start following the pandemic, meet their education needs.

bar chart representing 78%

78% of employees say they would be motivated to save more for retirement (or start saving) if they felt more confident about saving and investing decisions

bar chart representing 80%

80% of employees wish they better understood some aspect of their retirement plan

smiling man holding young boy

What are their top 5 topics of interest?

icon of magnifying glass and dollar sign

1. What investments to choose

icon of piggy bank

2. How much to save

icon of dollar bill and hourglass

3. How to manage your investments as you age

icon of scissors cutting a dollar bill

4. How money in the plan is/will be taxed

icon of circular arrows and dollar sign

5. Options for converting your savings into retirement income after you retire

 

Overcoming inertia ...

Surprisingly, saving intentions don’t always align with actions, but this presents a significant opportunity for easy engagement.

pie chart representing 69% with an outer ring representing 39% of the 69%

69% of participants want to save more for retirement; 39% have a plan to increase deferral rate

pie chart representing 49% with an outer ring representing 23% of the 49%

49% of non-participants want to start saving; 23% have a plan to start or restart contributions

Quick enrollment or mobile app tools may help overcome savings inertia. Simply reminding employees to take action can help, too.

 
 
icon of exclamation point

The #2 reason for saving less is “have not gotten around to it.”

 
 

An employer match motivates.

Among non-participants whose plan doesn’t offer a match:

10 by 10 square grid representing nearly three-quarters

Nearly three-quarters

would be at least somewhat likely to join the plan if a 6% or 10% match were offered

  • 42% would be extremely likely to participate if a 10% match were offered
  • 26% would be extremely likely to participate if a 6% match were offered
10 by 10 square grid representing more than two-thirds

More than two-thirds

say they would be at least somewhat motivated if a 3% match were offered

  • 16% would be extremely motivated by a 3% match
 
icon of check mark

Even a 3% match can make a difference.

Personalization motivates.

Education that is relevant to a participant’s personal situation with real-life numbers motivates action.

icon of a one-on-one meeting

Had a one-on-one meeting with a financial professional (virtual or in person): 42% increased deferral rate

icon of an income spreadsheet

Used a retirement savings calculator:
34% increased deferral rate

icon of calculator

Looked at a retirement income projection:
42% increased deferral rate

Encourage your participants to adopt the top four habits of successful savers.

Educate and motivate toolkit

Use this sample of educational materials to give employees the knowledge they’re looking for. Contact your Lincoln representative for more information.

 

Find out more

Read the full report to explore the research and see how you can effectively engage employees after COVID-19.

 

About Lincoln Retirement Power

All data is from the 2021 Lincoln Retirement Power® Study unless otherwise specified.

The 2021 Lincoln Retirement Power® Study is based on a national survey of 2,535 full-time workers who are eligible to contribute to an employer-sponsored retirement plan, including 2,030 participants and 505 non-participants. Greenwald Research, a third party market research firm, conducted the study on behalf of Lincoln Financial Group Retirement Plan Services. Greenwald Research is not associated with Lincoln Financial Group. Online interviewing took place from February 19 to March 18, 2021. Data is weighted by demographics to mirror the total population.

Lincoln Retirement Power® is a platform for research and viewpoints on central issues related to retirement planning. The program seeks to identify forward-thinking ways to help plan sponsors, financial professionals, and participants. As part of the program, Lincoln sponsors both proprietary and third party research, with an emphasis on what drives better retirement outcomes.

GraphicLine

Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations.

This material is provided by The Lincoln National Life Insurance Company, Fort Wayne, IN, and, in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY, and their applicable affiliates (collectively referred to as “Lincoln”). This material is intended for general use with the public. Lincoln does not provide investment advice, and this material is not intended to provide investment advice. Lincoln has financial interests that are served by the sale of Lincoln programs, products, and services.


©2021 Lincoln National Corporation

LCN-3645533-062421
8/21 Z01
Order code: DC-RPINT-IDE001

Educate and motivate

Findings from 2021 Lincoln Retirement Power® Study

Knowledge can help improve confidence and drive engagement. As employees look for a fresh start following the pandemic, meet their education needs.

bar chart representing 78%

78% of employees say they would be motivated to save more for retirement (or start saving) if they felt more confident about saving and investing decisions

bar chart representing 80%

80% of employees wish they better understood some aspect of their retirement plan

smiling man holding young boy

What are their top 5 topics of interest?

icon of magnifying glass and dollar sign

1. What investments to choose

icon of piggy bank

2. How much to save

icon of dollar bill and hourglass

3. How to manage your investments as you age

icon of scissors cutting a dollar bill

4. How money in the plan is/will be taxed

icon of circular arrows and dollar sign

5. Options for converting your savings into retirement income after you retire

 

Overcoming inertia ...

Surprisingly, saving intentions don’t always align with actions, but this presents a significant opportunity for easy engagement.

pie chart representing 69% with an outer ring representing 39% of the 69%

69% of participants want to save more for retirement; 39% have a plan to increase deferral rate

pie chart representing 49% with an outer ring representing 23% of the 49%

49% of non-participants want to start saving; 23% have a plan to start or restart contributions

Quick enrollment or mobile app tools may help overcome savings inertia. Simply reminding employees to take action can help, too.

 
 
icon of exclamation point

The #2 reason for saving less is “have not gotten around to it.”

An employer match motivates.

Among non-participants whose plan doesn’t offer a match:

10 by 10 square grid representing nearly three-quarters

Nearly three-quarters

would be at least somewhat likely to join the plan if a 6% or 10% match were offered

  • 42% would be extremely likely to participate if a 10% match were offered
  • 26% would be extremely likely to participate if a 6% match were offered
10 by 10 square grid representing more than two-thirds

More than two-thirds

say they would be at least somewhat motivated if a 3% match were offered

  • 16% would be extremely motivated by a 3% match
 
icon of check mark

Even a 3% match can make a difference.

 

Personalization motivates.

Education that is relevant to a participant’s personal situation with real-life numbers motivates action.

icon of a one-on-one meeting

Had a one-on-one meeting with a financial professional (virtual or in person): 42% increased deferral rate

icon of an income spreadsheet

Used a retirement savings calculator:
34% increased deferral rate

icon of calculator

Looked at a retirement income projection: 42% increased deferral rate

 

Encourage your participants to adopt the top four habits of successful savers.

Educate and motivate toolkit

Use this sample of educational materials to give employees the knowledge they’re looking for. Contact your Lincoln representative for more information.

 

Find out more

Read the full report to explore the research and see how you can effectively engage employees after COVID-19.

 

About Lincoln Retirement Power

All data is from the 2021 Lincoln Retirement Power® Study unless otherwise specified.

The 2021 Lincoln Retirement Power® Study is based on a national survey of 2,535 full-time workers who are eligible to contribute to an employer-sponsored retirement plan, including 2,030 participants and 505 non-participants. Greenwald Research, a third party market research firm, conducted the study on behalf of Lincoln Financial Group Retirement Plan Services. Greenwald Research is not associated with Lincoln Financial Group. Online interviewing took place from February 19 to March 18, 2021. Data is weighted by demographics to mirror the total population.

Lincoln Retirement Power® is a platform for research and viewpoints on central issues related to retirement planning. The program seeks to identify forward-thinking ways to help plan sponsors, financial professionals, and participants. As part of the program, Lincoln sponsors both proprietary and third party research, with an emphasis on what drives better retirement outcomes.

GraphicLine

Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations.

This material is provided by The Lincoln National Life Insurance Company, Fort Wayne, IN, and, in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY, and their applicable affiliates (collectively referred to as “Lincoln”). This material is intended for general use with the public. Lincoln does not provide investment advice, and this material is not intended to provide investment advice. Lincoln has financial interests that are served by the sale of Lincoln programs, products, and services.


©2021 Lincoln National Corporation

LCN-3645533-062421
8/21 Z01
Order code: DC-RPINT-IDE001

Educate and motivate

Findings from 2021 Lincoln Retirement Power® Study

Knowledge can help improve confidence and drive engagement. As employees look for a fresh start following the pandemic, meet their education needs.

bar chart representing 78%

78% of employees say they would be motivated to save more for retirement (or start saving) if they felt more confident about saving and investing decisions

bar chart representing 80%

80% of employees wish they better understood some aspect of their retirement plan

What are their top 5 topics of interest?

icon of magnifying glass and dollar sign

1. What investments to choose

icon of piggy bank

2. How much to save

icon of dollar bill and hourglass

3. How to manage your investments as you age

icon of scissors cutting a dollar bill

4. How money in the plan is/will be taxed

icon of circular arrows and dollar sign

5. Options for converting your savings into retirement income after you retire

 

Overcoming inertia ...

Surprisingly, saving intentions don’t always align with actions, but this presents a significant opportunity for easy engagement.

pie chart representing 69% with an outer ring representing 39% of the 69%

69% of participants want to save more for retirement; 39% have a plan to increase deferral rate

pie chart representing 49% with an outer ring representing 23% of the 49%

49% of non-participants want to start saving; 23% have a plan to start or restart contributions

 

Quick enrollment or mobile app tools may help overcome savings inertia. Simply reminding employees to take action can help, too.

 
icon of exclamation point

The #2 reason for saving less is “have not gotten around to it.”

An employer match motivates.

Among non-participants whose plan doesn’t offer a match:

10 by 10 square grid representing nearly three-quarters

Nearly three-quarters

would be at least somewhat likely to join
the plan if a 6% or 10% match were offered

  • 42% would be extremely likely to participate if a 10% match were offered
  • 26% would be extremely likely to participate if a 6% match were offered
10 by 10 square grid representing more than two-thirds

More than two-thirds

say they would be at least somewhat motivated if a 3% match were offered

  • 16% would be extremely motivated by a 3% match
 
icon of check mark

Even a 3% match can make a difference.

 

Personalization motivates.

Education that is relevant to a participant’s personal situation with real-life numbers motivates action.

icon of a one-on-one meeting

Had a one-on-one meeting with a financial professional (virtual or in person): 42% increased deferral rate

icon of an income spreadsheet

Used a retirement savings calculator:
34% increased deferral rate

icon of calculator

Looked at a retirement income projection:
42% increased deferral rate

 

Encourage your participants to adopt the top four habits of successful savers.

Educate and motivate toolkit

Use this sample of educational materials to give employees the knowledge they’re looking for. Contact your Lincoln representative for more information.

 

Find out more

Read the full report to explore the research and see how you can effectively engage employees after COVID-19.

 

About Lincoln Retirement Power

All data is from the 2021 Lincoln Retirement Power® Study unless otherwise specified.

The 2021 Lincoln Retirement Power® Study is based on a national survey of 2,535 full-time workers who are eligible to contribute to an employer-sponsored retirement plan, including 2,030 participants and 505 non-participants. Greenwald Research, a third party market research firm, conducted the study on behalf of Lincoln Financial Group Retirement Plan Services. Greenwald Research is not associated with Lincoln Financial Group. Online interviewing took place from February 19 to March 18, 2021. Data is weighted by demographics to mirror the total population.

Lincoln Retirement Power® is a platform for research and viewpoints on central issues related to retirement planning. The program seeks to identify forward-thinking ways to help plan sponsors, financial professionals, and participants. As part of the program, Lincoln sponsors both proprietary and third party research, with an emphasis on what drives better retirement outcomes.

GraphicLine

Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Affiliates are separately responsible for their own financial and contractual obligations.

This material is provided by The Lincoln National Life Insurance Company, Fort Wayne, IN, and, in New York, Lincoln Life & Annuity Company of New York, Syracuse, NY, and their applicable affiliates (collectively referred to as “Lincoln”). This material is intended for general use with the public. Lincoln does not provide investment advice, and this material is not intended to provide investment advice. Lincoln has financial interests that are served by the sale of Lincoln programs, products, and services.


©2021 Lincoln National Corporation

LCN-3645533-062421
8/21 Z01
Order code: DC-RPINT-IDE001

 
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