OTP Voluntary Pension Fund is one of the largest players in the Hungarian pension fund market in terms of both membership and assets under management. However, following the private pension fund reforms in 2011, public trust in long-term investments had weakened significantly by 2015 — threatening a decline in membership.In addition, from 2014 onwards, the 20% annual tax rebate also became available for pension insurance products, creating increased competition in an already saturated market.
The campaign’s goal was to help increase OTP Voluntary Pension Fund’s membership and encourage contributions by introducing a completely new approach to pension savings communications — one that speaks directly to young employees. But what message truly resonates with them?
Our research revealed that although most young people are aware they are unlikely to receive a state pension, they still do not save — because they assume they will continue working during retirement. Our campaign set out to show the impossibility of this belief. For the first time in Hungary, we presented the negative side of lifelong work.
Instead of the distant, idyllic visions used by competitors, we developed an integrated campaign that confronted young people with reality. If they do not save, they can expect two things:
These two ideas became the core of the campaign. We wanted to make them tangible, provoke the public and spark conversation — using as many creative tools as possible.
Alongside traditional media relations, we created the country’s first Retirement Museum, produced online videos that confronted viewers with the absurdity of working forever and introduced unique installations in selected OTP branches.
Thanks to this bold and unconventional approach, the campaign achieved outstanding visibility despite a relatively modest budget. In less than three months, it generated more than 150 media appearances, increasing OTP Voluntary Pension Fund’s Share of Voice by over 35%.
Business results were equally strong:
Today, the concept of lifelong work has become a fundamental element of pension communication, and OTP Voluntary Pension Fund remains the only market player that has increased its membership every single year since 2014.
The campaign won multiple awards, including the European Excellence Awards, the Sabre Awards, and several additional national and international recognitions. The accompanying commercial was ranked by Synetiq as the most effective advertisement of 2017 in terms of attention retention.
