Keuzebegeleiding bij pensioenen: is alleen een online tool voldoende?

Offering choice guidance through an online tool is seen as a promising way to provide personalized support to large groups of pension participants. But how adequate is the choice guidance provided by online tools? Do participants, for example, make the same retirement choices when guided by an online tool versus more intensive guidance, such as from a pension advisor? And do they understand the consequences of the choices after being guided by an online tool? In this field experiment, in which participants went through an online tool independently, in a group session or in a one-on-one conversation with a financial advisor, we investigated the extent to which an online tool sufficiently guides consumers in making a choice, or whether additional guidance is desired. Results showed that choice guidance that combined the online tool with a one-on-one conversation with a financial advisor resulted in i) more interaction with the tool, ii) greater understanding about what the future financial consequences of the retirement choice might be, iii) a more valuable experience and iv) a decrease in feelings of self-efficacy around retirement choices. There were no (significant) differences between conditions in the retirement choices they made and participants’ confidence in the retirement choices they made. Implications and suggestions for follow-up research are discussed.