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Cases of information campaigns implemented by the industry. Dariusz Stańko Warsaw School of Economics. 2010 FIAP International Seminar „Developing the Potential of the Individually Funded Pension Systems”, Viña del Mar, 6-7 May 2010. The survey. time: March-April 2010

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Cases of information campaigns implemented by the industry

Cases of information campaigns implemented by the industry

Dariusz Stańko

Warsaw School of Economics

2010 FIAP International Seminar „Developing the Potential of the Individually Funded Pension Systems”, Viña del Mar, 6-7 May 2010

The survey
The survey

time: March-April 2010

method: Internet 10 questions’ inquiry:target, scale, methods, assessment, role of government institutions, conclusions for the future

participants: FIAP members plus CEE countries

respondents: 11 countries (approx. 60%) (Chile, the Dominican Republic, the Netherlands Antilles, Honduras, Hungary, Mexico, Poland, Romania, Salvador,Slovakia, Uruguay)


Campaigns types and issues
Campaigns: types and issues

implementation actions: start of the system, multifunds (CL, HU), new rules, updating data (DO) etc.

typical actions: pension awareness and knowledge of the system(rules, obligations and rights, institutions), advantages of the funded system (FF vs. PAYG, rates of returns, inheritance issues, safety, possibility of choices, private vs. public, demographic changes), voluntary savings (NA), investor relations (DO) etc.

crisis management actions:financial losses in 2008-2009 (PL, HU, MEX)political actions (taxes HU, system’s dismantling SL, PL)


Campaigns typical tools used
Campaigns: typical tools used

personalised contact (letter, phone, sms, e-mail, visits to companies)

seminars, conferences, press breakfasts, joint reports

press, radio, TV, chats, websites (ads, interviews, leaflets, educational series, info micros)

impact assessment

PR agencies rather for huge campaigns


Campaigns examples
Campaigns: examples

CL - 2002 multifunds, joined efforts with the government and the financial supervisor

UR - National Dialogue on Social Security from 2007/2008, Programme of Integral Advice

SAL - Pension education programme with financial supervisor from 2010

MX - co-operation with financial supervisor and National Commission for the Protection of Users of Financial Services (CONDUSEF)

HU - 2009 attempt of tax increase on voluntary contributions, alliance with trade unions

PL - “too good education” - system’s initial public info campaign - great support, but negative long-term impact of AFPs’ marketing messages


Campaigns typical problems spotted
Campaigns: typical problems spotted

low pension awareness (financial literacy)

limited or no interest in the topic, especially amongst the young

little or no support from governments, co-ordination problems

ideologisation of the pension system (politicians’ short-term horizon, populism, various interests)

part of audience out of reach (media, newspapers) if TV not used


Campaigns what to address in the future
Campaigns: what to address in the future?

pension awareness (need of saving, knowledge of how to do that)

targeting workers outside of the systems or with low salaries (Latin America)

performance and safety of the system

nature of the demographic problem (CEE)


Case study chile multifunds 2002
Case study: Chile - multifunds 2002

joint 1-year campaign with the government and the superintendency; PR agency used

4 radio messages:

What would you say if you have 5 ways to change your future?

Do you think there is nothing you can do to improve your future?

How many times have you taken really important decisions in your life?

Do you believe that each person’s destiny is written?

interactive CD for TV - 1 Aug 2002

info commercial on TV (local, prime time) - 18 Aug 2002, preceding 823 000 inserts with multifund application form in the mainstream media - 19 Aug 2002



Case study hungary financial crisis 2008
Case study: Hungary - financial crisis 2008

autumn 2008 - campaign with a PR agency, from Jan 2009 till June 2009 a press campaign

to counteract the bad timing of introduction of multifunds (at the end of 2008, 75% members were in the aggressive funds)

to explain bad results of 2008 to the population (announcement preceding the information of the Financial Authority)

saving for retirement is a long-term investment

voluntary funds - do not realize losses, unless it is really necessary

interviews in newspapers, TV, radio, educational series in free daily newspaper, conferences.


Conclusions i
Conclusions (I)

keep the message(s) as simple as possible

better identification of various groups preferences and their situation is needed before implementing mass campaigns

communication and education is an ongoing process, do not save on it in „good times”

importance of creating good relations with opinion makers, leading media and trade unions that can influence workers and public opinion


Conclusions ii
Conclusions (II)

target young generation (cinemas, shopping centers, internet)

to counteract the problem of financial literacy and pensions politicization, the pension education should be a part of school/university curriculum

explain to media and the public the nature of the demograhpic problem and the role of FF systems (CEE)