Client Success Story: Edrington

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Seeking to secure long-term financial wellbeing for its workforce and encourage staff to engage with their financial futures, Edrington drew upon its longstanding relationship with Standard Life.

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Challenge

Founded in Glasgow in 1861, Edrington is a major international player in the arena of ultra-premium spirit brands.

Its global stature is matched with a deep-rooted conscience which has seen its principal shareholder, The Robertson Trust, donating £343million to charitable causes in Scotland since 1961.

Edrington had decided to set up a Master Trust for its 1,000-strong workforce that would better reflect the company’s equitable values, while encouraging employees to engage with their financial futures.

Given our longstanding relationship with Edrington and our proven expertise in emphasising financial wellbeing and aligning brand values, we were tasked with seamlessly delivering this pension scheme transformation.

The challenge, however, would be engaging every member of Edrington’s widely-dispersed workforce about this change when most employees had limited digital access at work, with only a fraction operating at a desk.

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Solution

In keeping with Edrington’s familial ideology, we literally went the extra mile by setting up face-to-face presentations at five Edrington sites, travelling as far as Orkney.

These were well attended and well received, augmented by webinars for those unable to make the onsite sessions.

Individual consent was needed to move employees’ existing pots into the new Master Trust: but with so many non-desk-based staff at Edrington, we created a range of comms to maximise engagement by covering multiple touchpoints.

For example, workers on rural production sites received tailored Direct Offer letters including a paper form, plus instructions on making the switch online if preferred.

To ensure active engagement with their new pension scheme, we offered members a suite of initiatives and tools, including:

• An online ‘Plan Your Future’ hub, with video guides and personalised content (e.g. projected retirement income)
• Access to our investment hub, with its integrated Money Mindset open-finance platform, enabling members to centralise their financial accounts, make changes, and set/track goals 
• Our award‐winning Client Analytics tool, allowing Edrington to:
  • See where every member is predicted to fall within the PLSA Retirement Living Standards
  • Work with Standard Life to identify and address trends/themes
• Lifelens: Employees get one-click access, via single-sign-on, to information about their pension and benefits in one place. They can also access tools and calculators, change their contributions and update beneficiaries online at any time.

Our close, ongoing, and evolving relationship with Edrington is reinforced by:

• Participation from a cross‐section of Edrington representatives, enabling us to act upon their ‘on‐the‐ground’ input/insight
• Open communication between Edrington and our Master Trust trustees
• Continual improvements to our offerings (e.g. digital journeys) based upon member/employer feedback

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Results