Manulife Singapore has commenced a new campaign looking to motivate Singaporeans to take control of their retirement.
Created to combat the most common behavioral issues, errors and misconceptions about retirement planning, the data used to develop the campaign is obtained from survey results from Manulife's Investor Sentiment Index (MISI). The findings revealed that many Singaporeans regularly procrastinate retirement planning due to other priorities and a lack of urgency. However, the survey also indicated that some were aware of the discrepancy between their savings and expenses, but simply chose not to act in the hope that their situation would resolve when it was time for retirement.
As a part of the campaign, Manulife published two advertisements demonstrating the effects of neglecting retirement planning, which can be seen below:
President and CEO of Manulife Singapore Naveed Irshad said: "Our recent MISI survey revealed some worrying signs. Although respondents' top financial concern was running out of money in retirement, only about half had started planning for retirement. Planning for one's retirement may seem overwhelming but the key is to start now and take the first step, no matter how small it may seem. Through this campaign, we hope to use a lighthearted approach to motivate Singaporeans to take immediate actions to secure their investments."
The campaign is set to be marketed across a variety of platforms, including outdoor advertising on vehicles, print, online and mobile. It will introduce a three-pronged solution for retirement, aiming to highlight to consumers that they have the ability to take control of their own retirement through Manulife's Retirement Solutions:
1. Build Your Wealth - make your money work harder for you so as to keep pace with inflation and build your retirement nest egg.
2. Protect Your wealth - protect your retirement savings from rising medical costs as you grow older.
3. Enjoy Your Wealth - set up a steady stream of income so that you can enjoy your golden years without outliving your resources.
The campaign's focus will be on content marketing, with print, digital and video expected to be extensively used. With an aim to educate consumers through informative content, the campaign will attempt to demonstrate to consumers that they can benefit from Manulife's expertise in retirement planning.
Notably, Manulife Singapore has joined up with online news portal AsiaOne to reach out to Singaporeans in more ways. With opportunities such as online resources (articles and videos) and a question submission portal, interested netizens will have the chance to improve their financial knowledge about retirement planning. Additional resources provided by Manulife include the online Retirement Calculator, available in English and Mandarin, which can be utilized by consumers to learn of potential gaps in their planning and finances.
To encourage early sign ups for their retirement planning program, Manulife is offering a limited promotion during the campaign period. Those who register for the plans between July 1 and September 30 in 2015 can potentially win cruise vacations and shopping vouchers in addition to receiving major discounts.