Navigating Pension Education in the Age of Financial Influencers

In an era where financial advice flows freely across social media platforms, HR departments face a growing challenge: ensuring employees receive accurate, reliable information about their pension plans. Since mandatory employer pension contributions were introduced in 2012, retirement planning conversations have increased, but the quality of information varies dramatically.

According to the “Young Money Report 2025” released by communications consultancy MRM in January, a striking 77% of Generation Z individuals trust advice from financial influencers, or “finfluencers.” Furthermore, 45% of Gen Z primarily obtain financial information from social media rather than traditional sources.

“The growing number of finfluencers with varying degrees of knowledge and qualifications make it hard to be sure people are getting the right information about their pensions,” explains James Biggs, partner at Employee Benefits Collective.

While some social media content delivers genuine value, much of it falls short. Julie Hammerton, managing partner at Hymans Robertson Personal Wealth, acknowledges that certain online financial content is “genuinely helpful – clear, visual and relatable in a way that traditional communications rarely manage.” However, she cautions that “much of it is incomplete, emotionally driven or commercially motivated.”

The challenge for employers extends beyond simply replicating engaging formats – they must balance accessibility with factual accuracy.

“A workplace pension can be a substantial percentage of a job’s total remuneration,” emphasizes May Fairweather, director of financial education firm Talk About Money. “HR should make as much effort to ensure everyone understands the pension scheme as they do to ensure staff take their annual leave or submit accurate timesheets.”

Misconceptions about pension schemes remain widespread. James Gozney, CEO of financial wellbeing provider Aslan, notes that “the biggest misunderstanding is around contribution matching. Most Gen Zs wrongly assume their employers are contributing far more than they do.”

The knowledge gap is significant. In April 2025, research by insurer Aviva revealed that almost 20% of workers didn’t know what type of pension they had, while over half were unaware of government tax relief on pension contributions.

Sophia Singleton, president of the Society of Pension Professionals (SPP), believes collective action is necessary: “All of us – the pensions industry, HR professionals and government – have to do more to improve consumer understanding.”

Charles Cotton, senior performance and reward adviser at the CIPD, agrees there is widespread confusion about pension taxation, retirement options, and appropriate savings levels. “Obviously, the earlier they start saving, the easier it is to achieve their targets, so it’s important that employers regularly communicate this,” he says.

Experts recommend that HR departments focus on directing employees to credible information sources rather than attempting to become technical experts themselves. Auria Heanley, co-founder of recruitment agency Oriel Partners, identifies government-backed resources like MoneyHelper, The Pensions Regulator, and the Financial Conduct Authority (FCA) as reliable sources.

“Employers and HR leaders can support employees by consistently signposting these trusted sources,” Heanley advises. “Including links in benefits portals, onboarding materials and internal communications can help employees access reliable information at the moments when they are most likely to need it.”

Digital tools are also proving effective across generations. “Workers, both young and old, use apps, so it makes sense for HR teams to highlight the relevant mobile app for their pension,” Cotton says. These apps provide easy access to fund sizes, progress tracking, and investment information.

When it comes to engaging younger employees, format matters. Helen Taylor, chief legal, risk and compliance officer at TPT Retirement Solutions, acknowledges that “TikTok videos are a quick and instant way of engaging a Gen Z audience. They can be useful to improve your knowledge of and interest in pensions. But it’s incredibly important to check your sources.”

Gozney warns that “in a vacuum of information, Gen Z workers will find their own answers.” He suggests that while employers may not need to create TikTok content, they should focus on “digestible, proactive communication.”

Irene Sirawa, founder of employee financial wellbeing platform The Finance Society, recommends a “just-in-time” strategy featuring easily accessible information, tiered content such as bite-sized videos addressing specific questions, and strategically timed communications during key financial moments in employees’ lives.

Marc Perry of insurer LV= cautions that while short videos can engage younger audiences, “pensions are complex, long-term decisions that can’t be fully explained in 20-second clips.” As younger employees juggle immediate financial concerns like saving for homes, Perry advocates for “a mixture of short-form content which engages, and access to more detailed information, so that informed choices can be made.”

Collaboration between HR departments and pension providers is essential. Biggs notes that providers should “continually review the best ways to build greater understanding of their proposition,” particularly given current video call fatigue. John Mullally of Cartwright Employee Rewards recommends that “advisers and providers should present to employees at least yearly, to help answer generic questions.”

Looking ahead, the FCA’s Targeted Support framework, effective April 2026, may facilitate better communication. Sirawa explains: “Authorised firms can now offer ready-made, personalised suggestions to groups of consumers without this constituting regulated financial advice.”

Lisa Beckett, head of people and culture at Trafalgar House Pensions Administration, summarizes the collaborative approach needed: “Pension providers and administrators already produce accurate educational content. HR could translate and share this information in a way that resonates more with younger employees.”