The Cash Incentive Experiment

It’s not hard to find adverts these days, trying to get you to transfer your pension pot to a different provider. Many of those ads feature cash incentives to try to persuade savers to move their money.

The People’s Partnership, which runs The People’s Pension, wanted to test how people responded to adverts like that, and whether the promise of £100 might get people to swap providers. Would they bother researching whether such a move would be detrimental in the long run?

The results were fascinating. In this episode Phil Brown meets Ruth Persian from the Behavioural Insights Team to talk about what they discovered.