Behavioural finance theory drives retirement planning

The latest in behavioural finance and adult learning theory will be used to encourage superannuation fund members to actively plan for retirement via a new education kit.

Corporate superannuation provider Plum Financial Services Limited (Plum) has applied the theories to the design of Planning your future today, a kit that contains material suitable for different learning styles, interest levels and financial behaviours.

“For members to reach their superannuation goals, they need to know where they want to be in retirement, and then map a path to get there,” Plum managing director Mike Fitzsimons said.

“Planning your future today aims to make this journey an easier one.”

The kit is said to allow members the level of involvement of their choice.

Having attained understanding of behavioural finance concepts, Plum’s education development team designed the kit to cater for a variety of preferences, from those who like to read about their superannuation in detail to those who prefer to simply complete a form.

All materials are colour-coded to assist cross-referencing and to direct readers to their area of interest.

A DVD is also included for those who prefer presentations to written information.

“The new kit complements Plum’s existing educational materials and forms part of our total member experience, which aims to help people achieve a financially secure retirement,” Fitzsimons said.

“This new education kit delivers information in an accessible and highly engaging way to encourage new Plum members to be actively involved in their super,” Fitzsimons said.