How Much?- Campaign Background
"How Much?" is the latest phase of the Office of the Retirement Commissioner's Take Action public education programme.
Since its launch in July 1998, the Take Action campaign has been the centrepiece of the Office's communications. The campaign, featuring the Retirement Action Planner workbook, has aimed to bridge the gap between awareness and actions on financial planning for retirement, to help consumers get answers to some common questions, and to prompt them to take action.
Research shows that the Take Action campaign has exceeded expectations, with the distribution of over 250,000 Retirement Action Planners, and over 100 unique visits to the online Interactive Action Planner each week. Of those who have received a booklet, 63 percent say they have put in place some action to prepare for retirement as a result of receiving the planner.
However, research has also shown that less than one third of the Office's target audience have worked out the answer to the key question of how much they will need in retirement.
The Office of the Retirement Commissioner's 2000 public education programme therefore encourages people to ask - and work out the answer to - two key questions:
How much money will I need to live on in retirement? and How much do I need to save to give me this amount?
These questions are central to the retirement planning process.
The Office of the Retirement Commissioner cannot provide the answers to these questions - the answer will be different depending on people's individual circumstances and aspirations. However, the Office can and will help people to work the answers out for themselves. The campaign is designed to encourage people to get started by helping them work out their own answer to that question.
The "How Much?" campaign comprises four different television advertisements encouraging people to think about how much they will need in their retirement, and directing them to the Office of the Retirement Commissioner's 0800 number and web site for more help.
In addition to the Retirement Action Planner, the Office has produced a brochure focusing solely on the "how much?" question.
Other activities for 2000
Alongside the -How Much?- campaign, the Office of the Retirement Commissioner will introduce an extensive workplace education programme in 2000.
The programme, designed to take retirement information directly to employers and employees in the workplace, will be launched in February.
For a quick and easy way to make a financial plan for your retirement, check out our Interactive Action Planner at www.retirement.org.nz . Calculators built and sponsored by The Web Limited, www.web.co.nz