Great-West Life has launched smartPATH 2.0, an interactive online resource designed to help employers better engage their employees in retirement education, planning and saving.
Presented in a first-person point of view, smartPATH 2.0 can customize a virtual neighbourhood to reflect the details of each participating employer’s specific group retirement and savings plan. The website is accessible from desktops, tablets and mobile devices.
“SmartPATH 2.0 was designed using behavioural finance and motivational theory,” explains Jeff Aarssen, the company’s vice-president of group retirement services, sales and marketing. “This approach acknowledges the role emotions play in financial decision-making and provides information in a manner that appeals to a broad range of ages and learning styles, so we can help people make better financial decisions.”
He adds that many employees with access to a work pension plan still aren’t on track to have enough income in retirement because they fail to participate or fully engage in their employer-sponsored retirement program, even when there is a matching employer contribution.
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