Just Retirement finds annuity customers active online
Just Retirement, the specialist provider of financial solutions for those at and in retirement, has revealed the results of its second annual survey of annuity customers and provides some interesting insights into retirees' use of technology.
The survey covers the views of almost 12,000 annuity customers, who have benefited from an increased income thanks to an enhanced annuity.
Interestingly, despite the high level of access to computers, only 35% of respondents (4,029) would like to see their pension details online and 33% would like to be able to change their details online
Nigel Barlow, Head of Research at Just Retirement, comments: "We are encouraged by the results of our survey as it shows many of those recently retired are actively keeping up with technological developments and using them to improve their quality of life. The proportion willing to use the internet for research is a particularly bright spot as there is a wealth of information available to help them through the maze of options at retirement and to help them keep in touch. This result most definitely indicates that if providers make information available in a clear and concise manner, they can improve the experience and confidence of their older customers. For those at retirement, this can make a huge difference: many are very confused about what to do with their pension funds and have little idea where to turn".
The lower number of people wishing to access their pension details online, or to change their details, indicated there is still some way to go to improve confidence in security online and to promote the benefits it brings.
Despite many of them using e-mail, 63% are happy to be contacted by post while 34% are happy to be contacted by telephone and 23% by e-mail. When contacting the company themselves, telephone is the preferred method, with 61% being happy to use this method compared to 36% by post and 22% by e-mail.
David Harrhy, IT Security Manager at Just Retirement, says: "Telephone is often the simplest way to sort out queries, but easy on-line access to personal details such as those regarding pensions can help people keep up to date at times often more convenient to themselves.
The internet is a powerful tool for people, but all too often the news is full of stories regarding online fraud, identity theft, viruses etc. But the good news is that by taking a few simple precautions you can protect yourself and for a great source of advice and information visit getsafeonline.org.
"Get Safe Online is a joint initiative between HM Government, the Serious Organised Crime Agency (SOCA) and private sector sponsors from the worlds of technology, retail and finance to provide unbiased, user-friendly advice about online safety for consumers and smaller businesses."
Using the internet to maintain bank accounts and financial details can save a lot of time, effort and possibly even money but it is vital to feel secure when doing this. Just Retirement will continue to provide high quality support and access however people want to contact us."