EAPSPI Task Forces: Communication - Workshop Sigtuna, Sweden, 24 October 2014

1. EAPSPI Task Forces: Communication - WorkshopSigtuna, Sweden, 24 October 2014

2. Table of contents: Communication task force • Members of task force • Questionnaire • Overview • Objectives of pension communication • Layered Communication • Segmenting clients • Life events • Channels

3. Communication task force • Meetings will take place in English and will be organised using conference calls and exchange of documents via e-mail. If necessary a face to face meeting may be organised to facilitate the dynamics of the group. • April – Launch – choice of issues, approach (methods), sharing of information sources (key documents) • 2 conference calls: 1st and 30th April • May – Preparation of mapping process - Face to face meeting for some TF members in Munich (Find Your Pension seminar) • July – Questionnaire sent to all members • September – 2 conference calls: analysis of data and preparation of workshop • The task force will present proposals for the next steps; these proposals will be discussed and the Board will make a decision on the future focus of task force work. • November 2014 – October 2015: Task force continues to work. The focus may be adjusted after the workshop in Sweden. Membership of the task force may evolve during this period according to changes in focus for future work. Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

4. Communication task force: Members Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels * KPA nominated 2 representatives. They will not participate at the same time in the same meeting.

5. Communication task force: Questionnaire Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels • What are the objectives of pension communication? • Your institution: organisation of communication • National measures concerning pension communication • What do you communicate (examples of 3 basic messages)? • Access to databases • Initiating communication with affiliates • Layered communication • Segmenting affiliates and addressing target groups • Life events • Communication channels • Pension calculator/Simulation tools

6. Communication task force: 15 replies to questionnaires Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

7. Communication task force: Overview Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels • Accelerators • Maturity of national pension communication regulatory measures • E-Government policy (digital communication) • Brand loyalty is important in systems which offer choice of supplier • Options, particularly in funded schemes • Attitudes to marketing in public-sector • Permeability of public- and private-sector employment • Brakes • Equality & universal access to pension information • Complexity of pension system • Compliance with consumer protection & financial services regulations • Financial (il-)literacy

8. Communication task force: Overview – Public-sector marketing Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels • Marketing • Promotion

9. Communication task force: Overview Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels • Organisation of communication activity • Communication is more developed in countries with choice built into the pension system • Funded schemes usually involve more developed communication, particularly when there are options • Where the institution manages several schemes or is part of a group, a small team of communication/marketing specialists provide services to the schemes • Replies difficult to analyse – communication with affiliates concerns workers in client centres • Outsourcing is frequently used, mainly for specialised activities: web design, graphics, printing, mass mailing

10. Communication task force: Communication activity and the public-sector • “Good communications is about getting the right message, to the right person, in the right way and at the right time” • What are the objectives of pension communication? • Increasing the pension awareness of active members • Making sure that clients know about their pension, where to find information and what to do when it’s time for retirement • Permitting the individual to be an informed actor in his/her retirement • Giving complete and understandable information to members AND meeting legal requirements of supervisory authorities • Making pension provision understandable and transparent • Making sure that the citizen-client is informed about all aspects of his or her personal pension of the public sector, proactively if necessary, but always as clear and uncomplicated as possible Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

11. Communication task force: Communication activity and the public-sector • Some replies contain messages from policy-makers • Raising awareness of the need to save for old age • Strengthening trust in pension provision in general • Occupational pensions are needed to maintain standard of living after retirement • Building trust in occupational pensions • Where choice is built into the system, objectives concern reputation, and customer loyalty • Enhancing the pension fund’s reputation as a solid and reliable institution • Keeping the customer loyal • Keeping the customers we have and making sure that they don’t leave to a competitor • Also seen as a lever for internal change • Pension communication should also be improved internally, in order to enable the organization’s employees to provide better communication to pension scheme members Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

12. Communication task force: Key Points of Communication Strategy Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels • Building trust • Strengthening credibility in the supplementary pension system • Enhancing reputation • Customer satisfaction • Keeping current customers • Maintain leading position in market • Fulfilling legal obligations • Compliance with complex legal requirements • Pension institutions have a social purpose, they are not simply financial institutions • Providing understandable and accessible information to government employees and employers • Developing partnerships with other professionals in order to provide better information to mutual customers and to improve efficiency

13. Communication task force: Layered Communication Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels • Simplification of communication data by layering, often using 3 layers: • Layer 1: Comprehensive consolidated overview of all benefits • Layer 2: Overview of each kind of benefits (from each pillar; retirement, survivor’s or disability) • Layer 3: Detailed information on each individual benefit including all data for each benefit. • >More

14. Communication task force: Segmenting clients Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels • Out of a total of 14 individual institutions, 11 have direct access to databases • 9 institutions use segmentation in their communication with active members • Criteria: • Sector Employer • Age brackets Life events • Income Sex • Place of work Type of benefit • Length of time in pension scheme • Uses: • “to target each group of recipients by providing content that specifically interests them, in order to provide more detailed information, avoiding generic messages sent to all pensioners but which are not fully addressing any specific issue” • “We have created our 5 segments through studies and a behavioural driven method” • “We have personas (typical customer) for each target group that helps get a picture of whom we are communicating with” • “choosing relevant topics, using attracting pictures and suitable language”

15. Communication task force: Different basic messages to segmented clients: ABP & age Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

16. Communication task force: different channels and messages to segmented clients Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

17. Communication task force: Life events at SPV 1. Starting government employment 2. Ending your government employment 3. If you die 4. Getting married 5. Cohabiting 6. Starting a family 7. Getting divorced 8. Getting sick 9. Sustaining a work-related injury 10. Studying 11. If you work less 12. If you take leave of absence Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

18. Communication task force: Different channels Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

19. Communication task force: Different channels Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels • Questionnaire lists different channels and asks members: • Do you use this channel today or do you plan to use it in the coming year? • What priority do you give this channel for the coming 18 months (0-3)? • Channels • Brochure(s) • Newsletters • Magazines • Standardised annual PBS (paper version) • Standardised annual PBS (electronic version, sent by e-mail or available on website) • Personalised letters • E-mail • Internet sites • Calls from and to client centres • Face to face meetings • Employers as a channel for communication with active members • Mobile applications (for smart phones/ipad/tablet) • Text messages to mobile phones • Social media • Face book • Linked In • You Tube

20. Communication task force: Different channels And the winners are … Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

21. Communication task force: Different channels 14/11 12/9 11/8 12/7 12/5 12/6 13/4 13/5 13/4 14/4 8/2 7/2 7/2 7/0 3/2 4/0 2/1 14/11 = 14 institutions use the channel or plan to use it in coming year. 11 institutions consider this channel a top priority

22. Communication task force: Channels - Internet sites Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

23. Communication task force: Channels - Internet sites Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

24. Communication task force: Channels - Internet sites Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

25. Communication task force: Channels - Social Media Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

26. Communication task force: Channels - Social Media Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

27. Communication task force: Channels - Social Media Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels 8 institutions already use them. 2 attribute highest priority for coming 18 months. Other media used or planned: Twitter Instagram Blog Xing.de Wikipedia

28. Communication task force: Themes for further work Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels Explanation of exercise • You have a total of 10 points to allocate between the 17 themes on the worksheet. 4 points for the top priority column, 3 for the moderate priority and 3 for the low priority column. You may also suggest themes that do not appear on the worksheet. • Please use the worksheet to note your priorities. • After this exercise, you will indicate your individual rankings on the flip chart using sticky labels. • This flip chart will then be used for a summary session following this workshop.

29. Thank you for your attention EAPSPI Task Forces: Communication - WorkshopSigtuna, Sweden, 24 October 2014