9.30 [Registration opens & and breakfast is served]
10.05-11.00 Introduction to Behavioural Science. What is behavioural science? Why it is important, and how we use it to make better decisions for ourselves and members.
- A tour of behavioural science and its application for pension professionals, with practical exercises. How fast and slow modes of thinking affect you, and your members.
11.00 Tea break (15mins)
11.15 How to apply behavioural science to member engagement
- How the investment choices you’re presented with can mislead you. What that means for the investment choices you present to your members. Hannah Lewis will reveal what Behave London's research shows can help engage members, and how you can use it.
- Using language to prompt action.
- Increasing savings rates.
- Getting members to make decisions.
13.15 - 14.30 Looking at your own biases. How your cognitive biases affect the decisions you make.
- Hannah Lewis will show practical ways to spot cognitive biases and how they affect the decisions you (and others) make, how to beat them, and how to help others do the same. How to check your own and others behaviour to make better decisions, and communicate better. You'll each learn which biases most affect your thinking.
- Group exercise: "Bias Bingo"
14:30-14:55 Afternoon tea break, (25 minutes)
Tea, cake and discussion
14:55-16:00 Behavioural Finance and retirement decisions
- Iain Clacher will show us how making good retirement decisions can be hard, why speed bumps matter and why intervening early in the process is key.
16:00 Wrap-up & group observations
16.15 onwards - Networking drinks