Communication

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

Table of contents: Communication task force

• Members of task force • Questionnaire • Overview • Objectives of pension communication

• Layered Communication • Segmenting clients • Life events • Channels Slide 2 Sigtuna Workshop: Communication

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.

Members of task force

•

Overview

• • •

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

Questionnaire

Objectives of pension communication Layered Communication Segmenting clients Life events Channels

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.

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Communication task force: Members

Members of task force

Ms

Amaia

Aldasoro

Elkarkidetza

Basque Country

Questionnaire

Ms

Malin

Ejderberg*

KPA

Sweden

Overview

Mr

Alexander

Hornich

BPK

Austria

Ms

Kristel

Janssen

ESIP-ONP

Belgium

Layered Communication

Dr.

Anja

Johanning

AKA

Germany

Segmenting clients

Ms

Christina

Lindh

SPV

Sweden

Life events

Mr

Tero

Manninen

KEVA

Finland

Channels

Ms

Anette

Pasternack*

KPA

Sweden

Mr

Tim

Pullman

CDC

France

Ms

Mojca

Trkman

Modra Zavarovalnica Slovenia

Ms

Claudia

Wegner-Wahnschaffe VBL

Germany

Mr

Raoul

Willms

Netherlands

APG

* KPA nominated 2 representatives. They will not participate at the same time in the same meeting.

Objectives of pension communication

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Communication task force: Questionnaire • 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

Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

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Communication task force: 15 replies to questionnaires Institution BUNDESPENSIONSKASSE VBV-Pensionskasse SdPSP KEVA CDC AKA VBL KVW APG KLP CGA Modra zavarovalnica ELKARKIDETZA KPA SPV

Country Austria Austria Belgium Finland France Germany Germany Germany Netherlands Norway Portugal Slovenia Spain Sweden Sweden

Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

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Communication task force: Overview • Accelerators

Members of task force Questionnaire

 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

Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

• Brakes  Equality & universal access to pension information  Complexity of pension system  Compliance with consumer protection & financial services regulations  Financial (il-)literacy Slide 7 Sigtuna Workshop: Communication

Communication task force: Overview – Public-sector marketing

• Marketing

Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

• Promotion

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Communication task force: Overview

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

Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

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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

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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

Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events

•

• •

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

Channels

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 Slide 11 Sigtuna Workshop: Communication

Communication task force: Key Points of Communication Strategy Members of task force

• 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

Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

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Communication task force: Layered Communication Members of task force

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

Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients

Life events Channels

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Communication task force: Segmenting clients

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 Age brackets Income Place of work Length of time in pension scheme

Members of task force Questionnaire Overview Objectives of pension communication

Employer Life events Sex Type of benefit

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”

Layered Communication Segmenting clients Life events Channels

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Communication task force: Different basic messages to segmented clients: ABP & age Members of task force

Messages

Target group

ABP wants to be a durable and reliable pension fund, so that customers can fulfill financial obligations now and in the future

All customers

The 25-35 year old knows that he/she is building up pension at ABP and that this pension is a good working condition.

25-35 years

Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events

Pension is relevant at the different life events.

35-45 years

The participant knows that MijnABP is easy, fast and accessible and it gives the desired financial insights.

45-55 years

The participant knows the choices within the scheme and can calculate on website using MijnABP. The degree of need for personal pension information increases. By filling this need well, can strengthen confidence ABP.

55-65 years

The participant knows when he gets his pension. This requires maintenance of the relationship and clear management of expectations.

65 and older

Channels

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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

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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

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

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Communication task force: Different channels Members of task force

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 email 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

Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

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Communication task force: Different channels And the winners are …

Members of task force Questionnaire

Channels

Y/P

Total

Max

Ave

Internet sites Standardised annual pbs (electronic version)

14

35

11

2,92

12

32

9

2,67

Calls from and to client centres Standardised annual pbs (paper version) Employers as a channel for communication with active members

11

29

8

2,42

Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

12

28

7

2,33

12

27

5

2,25

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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 channelSlide a top 21 priority

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

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

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

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

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

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Communication task force: Channels - Social Media Members of task force

8 institutions already use them. 2 attribute highest priority for coming 18 months. Channels

Internet sites Social media Mobile applications Face book You Tube Linked In Other media used or planned: Twitter Instagram Blog Xing.de Wikipedia

Questionnaire Overview Objectives of pension

Y/P

Total

Max

Ave

14 8 5 7 7 4

35 15 14 13 12 7

11 2 2 2 0 0

2,92 1,25 1,17 1,08 1,00 0,58

communication Layered Communication Segmenting clients Life events Channels

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Communication task force: Themes for further work

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.

Members of task force Questionnaire Overview Objectives of pension communication Layered Communication Segmenting clients Life events Channels

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Thank you for your attention

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

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