Singaporeans are living longer, yet close to half (44%) have not taken action on their retirement plan, and almost 70% are not looking forward to their retirement. How can CPF Board — responsible for national social security — help Singaporeans snap out of their retirement inertia and envision a retirement meaningful enough to start planning for?
People are meaning-makers, hardwired to find purpose in the things they do. Having a clearer reason for living leads to better saving habits and financial success. Without purpose, we gravitate to negativity and disengagement.
To help Singaporeans visualise a purposeful retirement and nudge them to start saving, we launched "Every Purpose Needs A Plan", an integrated campaign that challenged the conventional wisdom of retirement by heroing the inspiring stories of real-life purposeful retirees who’ve defied stereotypes and challenged ageist conventions. At the heart of the campaign was the Purpose Planner, an interactive online future-self discovery tool that helped nudge them to start saving for retirement.
Anthem Film (Free-to-air, Digital/Social) to rally the nation to advocate a lifelong pursuit of purpose, driven by real-life purposeful retirees – pursuing an MBA at 65, building an urban rooftop garden, supplying groceries to vulnerable groups, and starting Singapore’s largest silver cycling community. Interspersed with tangible and actionable ways to make the most of one’s CPF savings.
Key Visuals (Press, OOH, Digital/Social, POS) featuring retirees who achieved the freedom to pursue renewed passions through small and regular actions to grow their CPF savings to act as social proofs of the benefits they can leverage from CPF.
Video editorials & advertorials (Press, Digital/Social) expanded on each retiree’s success story to prove to Singaporeans that retirees today have genuinely bucked stereotypical retirement lifestyle.
Virtual Festival (Social) partners local academics, thought-leaders, advocates, and financial experts to endorse purposeful ageing and financial planning through talks
Content publishers aided amplification of the narrative through deep dives on the importance of finding one’s life purpose, using these priorities as guiding principles to firm up goals to save for, and financial planning tips and hacks to make the most of one’s CPF savings.
Precision Marketing (Native, Social, Programmatic Display/Video) 2 data-driven performance marketing journey tracks designed to nurture 1) topically unengaged and 2) semi-engaged segments through onsite interactions and towards conversions to encourage voluntary cash top-ups to their CPF savings via a variety of targeting and retargeting parameters.
With over 300 asset variations spanning all wellness dimensions, passions, life stage priorities and user behaviour -based messaging interactions, A/B call-to-action tests were deployed at each stage of both journeys. Representing trending interests and priorities as metaphors to discover goals, financially literate KOLs in similar life stage circumstances like starting work, being self employed or sandwiched breadwinners, drawing out key benefits of the Purpose Planner, offering alternative interactions like financial tools, or using factoids as testimonials/behavioural nudges to encourage more Singaporeans to make top-ups to their CPF savings.
Purpose Planner, a simple 3-part online experience offering a personalised guide for Singaporeans to unpack their “purpose”, recognise how their decisions today impact their financial adequacy tomorrow and find easy advice to start saving with CPF.
Wellness Quiz walks users through a process of self-discovery to unveil the physical, emotional, spiritual, and social priorities that influence their retirement goals. Questions were designed from learnings from focus group discussions and surveys to CPF members probing their life priorities, unrealised goals and life stage concerns.
Financial Profiler helps users through a process of self-discovery to quickly assess their retirement income needs based on current housing, healthcare and daily expenditure situation.
Personalised Dashboard pairs the user’s wellness priorities and financial profile to financial wellness opinion pieces from financial literacy KOLs sharing similar retirement motivations and life-stage concerns as well as other resources and tools.
CPF LIFE Calculator on the dashboard allows users to interact and project different scenarios to figure out the amount of CPF savings needed to acquire desired monthly payouts retirement.
