It is clear that human beings are far from the ideal of homo economicus. Indeed, we make non-optimal choices all the time.
Take pensions as an example. The truly rational, self-interested scheme member would surely read communications sent to him, learn to understand where his pension was invested, and know he ought to be...
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point