An unusual musical alliance has formed between an electronic music artist, a retirement-focused trade association and an insurance industry organization — all in the name of increasing awareness of all things retirement-related.
U.K.-based electronic artist Zuhair Hassan — better known as Big Zuu — the Pensions & Lifetime Savings Association and the Association of British Insurers launched "Pay Your Pension Some Attention" — a campaign designed to spread awareness to workers in the U.K about their retirement plans, especially those from past employers. Eight out of every 10 employees are participants in a retirement plan, yet over half do not believe that they are enrolled in one, according to ABI research.
"We want to reach people we don't normally reach and empower them," Sarah Cordey, campaign manager for Pay Your Pension Some Attention, said in an email. "Despite the success of auto-enrollment, there's still a tendency for many people to think messages about pensions don't apply to them."
Ms. Cordey said that these factors led the two agencies to start an awareness campaign, recruiting Mr. Hassan to produce an accompanying song and music video. In the video, Mr. Hassan sings about some of the fundamentals of saving for retirement while accompanying graphics flash across the screen. The song's beats and rhythm are in the style of electronic hip-hop songs known as Grime music.
"We wanted Big Zuu's track and links to the website to be easily shareable on the social platforms that people are on the most to start conversations about pensions and ensure they find the right onward journey to free, impartial information," said Ms. Cordey.
The ABI's research also found that over half of those surveyed think finding information regarding retirement plans is difficult.
"We're starting from really quite low levels of engagement when people aren't even aware they have a product, so that's a strong indicator of how much the industry has to do," Ms. Cordey said.
The campaign's website features a link directing users to a checklist and fact sheets on workers' retirement plans, answers to common questions workers have about retirement accounts, as well as an online tool to track down past retirement funds.
The PLSA represents pension schemes that provide retirement income to more than 30 million people to the tune of more than £1.3 trillion ($1.48 trillion) in the U.K and elsewhere, according to its website.