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NUDGE for Retirement (Default Nudge (Auto-everything) (Default…
NUDGE
for
Retirement
Default Nudge
(Auto-everything)
Default investment options
Default escalation
Default saving rate
Default re-enrollment
Default enrollment
Auto true-up
Physical Nudge
Mails
Flyers
Messages
Meetings
Financial Fitness Clinics
Affinity Groups
Digital Nudge /
(DIY Nudge)
Tools
Gamification (for education, inculcating savings mindset, planning) (
larger applicability
)
AR/VR
Mobile Apps (for education, engagement and choice architect)
Future Self (Seeing aged self, feeling aged self)
Portals (Access through employers portal)
Analysis Tools - What-if, modeling, simulation
IPA/RPA
{Cognitive Agents for validation, compliance checks)
Analytics, AI/ML (larger applicability)
Targeted marketing, contextual interaction, proclivity/churn analysis, behavior tracking,
Robot Adviser (for investment advice and management)
Conversational tools (Chat/Voice bots)
Digital Currency (Apple Pay)
Personalized Video Message
Personalized
Engagement
Education
Participants
Targeting parents for (Gen Z & Alpha)
Just-in-Time (Info, feedback)
Financial Fitness
Goal setting
Day-to-day oversight (esp through retirement)
Healthcare costs
Caregiving
Burden of debt
Proportion of Pillar I, II & III contribution for retirement corpus
Statements
Depicting the future derived benefit instead of mere past accumulation and its projection
Projecting the financial implications every action
Holistic personalized benefit illustrations
Participant Segmentation
Segment wise opportunities
Segment oriented themes (50+)
Proactive intervention
Inadequate Savings
Arrest 401K, 403B leakage (loan, withdrawals)
Prod for periodic retirement income
Create retirement transition bucket (nearing retirement)
Micro Contributions
Digital Wallet and Swipe
Visualization
Make it vivid
Mental accounting on screen
Web design (harvest middle, top-left, cold-spot bias)
Tailored to each individual's financial situation
Personalized alerts when the participant signs to their account
What-if scenario depictions
Spending Curve
Replacement Rate
Life Cycle Hypothesis
Wealth Signals (position as compared to others)