The project involves a consultancy to diagnose and strengthen the behavioral incentive strategies of the Periodic Economic Benefits (BEPS) program by COLPENSIONES.
Key Components:
- Behavioral Diagnosis: Identify cognitive, social, and structural barriers limiting participation and savings in BEPS.
- Analysis of Current Strategies: Evaluate the effectiveness of existing behavioral incentives, such as nudges, rewards, and simplification mechanisms.
- Design of Recommendations: Propose…
Bi Project Topic: Seniors
Using a place-based approach and working with profiled local communities in Coventry, we prototype and test a new experimental methodology with elements of design thinking to better understand barriers to engagement with retrofit measures designed to reduce household carbon emissions and alleviate fuel poverty. We partner with Coventry City Council, a local school and artists to deliver a pilot scheme in the Radford area of Coventry and aim in future to expand the project to additional areas…
BI Project
Behavioural study on the pan-European Personal Pension Product (PEPP) information documents
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 will 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.
This study examined how people respond to a new income plan for retirement, known as a Comprehensive Income Product for Retirement (CIPR). A CIPR is a composite retirement income product which is intended to provide a balance of income, risk management (for example, longevity risk management) and flexibility to retirees. In response to a Financial System Inquiry1 recommendation, the Government has agreed to facilitate superannuation trustees pre-selecting a CIPR for their members at retirement.…
Challenge
The City of Philadelphia in Pennsylvania offers a discount to low-income senior citizens living in the municipality on their water bills. Senior water and sewer customers can apply to receive 25 percent off their payments for water in an effort to reduce the financial burden on those elderly citizens with lesser means.
However, despite the fact that this would benefit the citizens in question, the City of Philadelphia noticed that many low-income seniors eligible for the discount were…