The participants give the DEPF a ‘pass mark’ for the communications, but there is room for improvement. Only a limited number of the participants know when they have to take action for their pension and the confidence in the pension fund and the board must grow.

These are some important conclusions from the participants’ survey that the DEPF organized in January and February 2019. Of the 664 participants who were invited, 30% completed the questionnaire. This is a good score that makes the results representative for the total number of participants. Most respondents were from Belgium.

Specific knowledge lacks
Pension is an important employee benefit for nearly all the participants. Of the respondents, 49% feel that the DuPont pension scheme is very good and 45% think it is in conformity with the market.

A majority of 62% approximately knows what the pension scheme offers, but specific knowledge lacks. For instance, 73% of the respondents do not know when they have to take action themselves for their pension and 24% has no idea what their income will be at retirement. There are striking differences between the Netherlands and Belgium. The Belgian participants know better what the choices are in the pension scheme than their Dutch colleagues. This can largely be explained due to the fact that the Dutch scheme offers more choices than the Belgian scheme.

Do you know which choices the pension scheme offers? Netherlands Belgium
I know that well 7% 15%
I know that approximately 27% 60%
I have no idea 66% 25%


Trust can be improved
58% of the respondents find it hard to judge if the DEPF is representing their pension interests. That is why 30% is critical and 57% neutral in their response to the question if their pension is in good hands with the DEPF.

Pass mark for communication characteristics
The DEPF scores pass marks for the most important general characteristics of the communication tools:
Correctness:                      6.68
Comprehensibility:         6.42
Timeliness:                         6.35
Balance:                              6.34

Meaning about communication tools
Looking at the communication tools,  47% has never visited the website, 21% only once and 32% between 2 and 10 times. Of the visitors, 10% found exactly what they were looking for, 40% approximately and 3% did not find it. The national websites and appear to be reasonably familiar with the participants: 68% have visited these sites.
40% of the respondents opened a digital newsletter in 2018. 66% of these respondents only read the main points, while 21% read the newsletters attentively. The UPO (Netherlands) and the pension fiche (Belgium) have been read by 62%; 28% of these respondents do not spend more than a minute on these documents. 57% largely understands the information and 2% do not. Of all the respondents, 10% had contact with the help desks of RiskCo in the Netherlands and Aon in Belgium. The vast majority of the questions has been answered to their full satisfaction.

Follow up recommendations
The Executive Board is grateful to the participants for their response and will follow up on a number of recommendations. The results clearly indicate that the participants must have a better knowledge of when they need to take action for their pension. Furthermore, the board must work to increase the confidence of the participants that their pension is in good hands with the DEPF. The fund will pay extra attention to these themes, for instance by developing a list of frequently asked questions and answers (see also the separate article about this in the newsletter) and by more emphatically promoting the personal pension consulting sessions.
The function of the website and the expectations that the board has of the site, will be evaluated in 2019. Early in November 2019 (around the three National Pension Days in the Netherlands) the DEPF will organize information meetings for participants in several locations. Information will be given about the contents of the pension scheme, how the board manages the pension money of the participants and which digital tools participants can use to collect information.