The modality of pension information matters: The effects of visualization and interactivity
By Kristjan Pulk, Kristian Pentus, Leonore Riitsalu, Leo Daniel Sipria, Robin Talisaar & Ene Tubelt
A significant barrier to pension engagement is a lack of awareness about the pension system and contribution options. Pension information is often presented as complicated text, which can deter engagement. We test how different modalities of visual and interactive pension communication affect individuals’ subjective pension knowledge, assessment of pension sufficiency, information search, and pension decision intentions. We do so by conducting two experiments: an online experiment and an eye-tracking experiment. The results reveal that visual and interactive tools outperform text-based or tabular presentations of identical information in two key areas: 1) improving subjective knowledge of the pension system, and 2) increasing the intention of proactive changes in pension planning. Furthermore, eye-tracking results provide process-level evidence suggesting that gradual presentation of retirement contribution choices reduces cognitive load. These findings demonstrate the benefits of using visualization and interactivity in pension communication, offering policymakers and pension providers valuable insights to enhance pension engagement.
Source SSRN
