IRELAND - The Pensions Board is embarking on a campaign to increase pension provision among youth.
Only 50% of people aged 25 to 34 have private pension provision at present. The advertising campaign is designed to target environments where young consumers are more likely to be, said Pensions Board information and training head Mary Hutch.
“The endeavour to encourage activity around pensions sees us entering the very backyard of our key target sectors,” she said. “Young people go to the cinema in the evening, have a drink in the pub with their friends at the weekend or travel by bus. The intention of our winter campaign is that the issue of pensions will turn up where they least expect it and encourage people to face up to their financial futures.”
Hutch said there already was a high level of awareness around pensions, but the aim now was to convert awareness into action.
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point