Aegon is expanding its digital engagement strategy with the rollout of Mylo, a workplace pension app designed to help people navigate financial decisions at key life stages.

The firm plans to extend the service to more than one million members by early 2026, building on the half million already introduced to Mylo.

The initiative reflects growing pressure on providers to tackle low engagement with pensions and long-term saving.

Research commissioned by Aegon found many people feel anxious, ashamed or embarrassed when looking at their pension, particularly around milestone moments such as changing jobs, starting a family or turning 50.

Speaking to Money Marketing, Nick Roy, commercial director of workplace at Aegon, said the app was created to address this “engagement gap”.

“I’ve been in the workplace channel for over 20 years, and we’ve always tried to crack engagement,” he explained.

Mylo’s solution is to use data to anticipate when members may need support.

“While the app is the front end, what Mylo is doing is actually creating data for the individual and nudging them at moments that matter,” Roy said.

“It’s about thinking more broadly about life events.”

Examples include encouraging members to review pensions after a job move or salary increase, or providing guidance at milestone ages such as 50.

“It’s about moving away from waiting for members to engage because something has happened, and instead trying to pre-empt it,” Roy added.

The app is also designed to be more approachable than standard platforms.

“One of the key things that came through in our research before we built the app was how much embarrassment people feel when looking at their pension,” Roy said.

“At 50, people often think, ‘Why haven’t I done more about this?’ That embarrassment makes pensions feel intimidating.

“That’s another reason we’ve branded it as Mylo. It feels more engaging, more approachable and less intimidating than a standard pension app.”

Employers have been quick to adopt the new platform.

Maria Dowdeswell, total rewards manager at sustainability consultancy Haskoning, described Mylo as “a real win for our people” and praised its “smooth and well-thought-out rollout”.

Cathy Wells, head of reward at publisher Hachette, said: “It gives our people a real opportunity to connect with the value of their pension on a day-to-day basis, and I’ve certainly seen an increase in pension engagement since then.”

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Roy confirmed early feedback from members has been positive.

“The main feedback so far is that members find pensions easier to understand and less intimidating than before,” he said.

“That creates a kind of halo effect – staff feel more comfortable about pensions, which improves overall wellbeing.”

He added that Mylo’s data also supports employers: “We can share insights about staff trends, which helps them understand what’s working in their wider benefits package.

“It might show, for instance, that an Isa option would be helpful. So, there are by-products for employers, too.”

One distinctive aspect of Mylo’s development has been the emphasis on member input.

“New features are developed in collaboration with members,” said Roy. “We gather feedback directly through the app’s messaging function and through on-site workshops.”

That approach has already led to changes: “For example, we adjusted the registration journey within the first month after spotting drop-offs.

“The main point is that this isn’t about advisers or consultants telling us what should go in. It’s about members telling us what they value.

“This approach helps us avoid just ticking off industry-driven features and instead build tools people genuinely use.”

For advisers working with employer clients, Roy emphasised that Mylo is designed to complement, not replace, financial advice.

“We’ve always believed that if members can access and afford advice, they should take it. But we know there’s a large group who can’t. Mylo helps bridge that gap,” he said.

“It won’t provide financial advice – that’s not its role – but it can offer guidance and direct members to advice where needed. So, it dovetails well with advisers, without trying to replace them.”