Income urges Singaporeans to be the last 'Sandwich Generation' by saving for retirement
Singapore Insurance company NTUC Income (Income) is urging people to be the last sandwich generation (a generation of people, typically in their thirties or forties, responsible both for bringing up their own children and for the care of their aging parents) by preparing for their retirement in latest campaign.
Income urges Singaporeans to be the last 'Sandwich Generation' by saving for retirement
The campaign titled 'The Promise' and created by BBH Singapore narrates the story of a man who is talking about how he can't always give the best of things to his family and that he is just done alright in life. In the end, it is revealed that the protagonist was speaking with his newborn baby as he promises her that he would never be a burden on his kids life by planning for retirement from the start.
The campaign drew its insight from a study commissioned by Income and conducted by Kantar, showing that 94% of individuals that fell within the sandwich generation feel financially pressured while 80% of young Singaporeans feel they will become the next sandwich generation. The research also showed that close to 60% of the sandwich generation has not started planning for their retirement.
The campaign will run across social, digital, OOH and in-store components.
Marcus Chew, chief marketing officer, Income, said: “We believe that today’s generation of parents has better access to the knowledge and financial tools to be financially independent in their retirement years, as compared to their own parents before.
"By planning their retirement, they can ensure their children will not have to be ‘sandwiched’ in future since their parents are financially independent. We hope that our target audience will embrace this message that we have shared through a relatable campaign.”
Janson Choo, BBH Singapore said: “The thing about being a sandwich generation is that many of us have a defeatist attitude towards it. We think of it almost like part of adulthood or growing up, and it becomes a vicious cycle from parent to child. So when Marcus and his team proposed the idea of ending the 'sandwich generation', it immediately resonated with us. There is a way out. It's not going to be easy, but we can be the last, so that our children won't have to be sandwiched in the future.”
