Duration: 2019 – 2020
Consortium: Open Evidence (leader), LSE, BDI
Methodology: Behavioural Study
Tools: Focus Group, Behavioural Experiments
Fieldwork: Croatia, Ireland, Spain
Geographical scope: EU27
The overall purpose of the study is to facilitate and execute graphic design work and consumer testing regarding the pan-European Personal Pension Product (PEPP) Key Information Document (KID) and Benefit Statement (BS) in three Member States. We use mix behavioural methods to understand relevant behavioural biases, and why consumers find certain aspects of information related to pension products difficult to understand, and how to overcome those difficulties. The outcome of the consumer testing help the European Insurance Occupational Pensions Authority (EIOPA) with its policy decision on the comprehensibility of the information to be included in the PEPP KID and PEPP BS and the presentation of this information, which inter alia fits the digital environment.