Campaign Spotlight: 'Spend For Retirement" and Leo Burnett Mexico invite to solve the problem of saving for old age

Sponsor

MEXICO CITY, MEXICO – After a year of pandemic and economic crisis raging in the country, saving has become imperative for all Mexicans, given job and economic uncertainty.

Worldwide pension systems are in crisis, and Mexico is no exception. An estimated 70% of Mexicans will not collect their pensions, and organizations such as the OECD have already warned about the need to reform the pension system.

Sponsor

Faced with this reality, “Spend for Retirement” – known in México as “Millas® para el Retiro” – was born, a mobile financial service that unites brands, pension funds, and consumers so that Mexicans can save for their retirement while they spend. This platform invites brands to resolve the pension problem by contributing a percentage of their products’ purchase price and subsequently crediting their consumer’s accounts.

Any brand or service can be part of “Spend for Retirement” and help their consumers’ future, strengthening the bond with them in this way. The app connects to all pension funds in Mexico; consumers only need to register to get the discount amount directly credited to their account each time they buy. Brands such as Grupo Alsea, through its loyalty program WOW rewards, and Domecq, among others, have already joined this project to solve this problem and help Mexicans live a dignified life post-retirement.

The initiative has the backing of Vitalis, a consulting expert in pensions, the Mexican Association of Afores, the National Commission of the Retirement Savings System, and Leo Burnett Mexico. It has also been recognized by several organizations, including the UN, Fintech Business awards in the tenth edition of BBVA’s Open Talent, in the Financial Inclusion category, for linking consumption to saving for old age, as well as the recognition of experts at the World Pension Summit.

Although it’s been in the market for a short time, the application already has 100,000+ users, experiencing triple-digit growth in the last year. Additionally, “Spend for Retirment” is the Commercial Network that sends the most money in voluntary savings to the AFORES, according to CONSAR. It’s estimated that by 2027, the total voluntary savings accumulated thanks to Millas para el Retiro will be $350M USD.

For Jorge López, Founder of Vitalis, “The purpose of Spend for Retirement is that we all participate in order to reach a dignified old age. The support of brands is vital.”

For Leo Burnett MX, the initiative has been one of this year’s most important projects. “For the first time, we are facing a real solution to the problem of poverty in old age. It’s a collaborative solution and evidence that the union between creativity, innovation, and technology to improve people’s lives is the only way forward,” stated Federico Russi CCO Leo Burnett Mx.

“It is an idea that not only does something for people but also brands. What’s the use of selling a lot today if those same customers can’t buy them tomorrow?” supports Fernando Bellotti (Creative Chairman, Publicis Groupe Latam).

This year, “Spend for Retirement’s” mission is to continue adding brands to the project to continue supporting Mexicans so that they can have a dignified retirement.

CREDITS

Credits Spend for Retirement (Millas para el Retiro)

Jorge López
Founder Vitalis /Millas para el Retiro

Abraham Hernández Pacheco
Founder Vitalis /Millas para el Retiro

Fernando Bellotti
Regional Creative Chairman

Horacio Navarro
CEO – Leo Burnett Mx

Federico Russi
Chief Creative Officer – Leo Burnett Mx

Diego Ortiz
Executive Creative Director – Leo Burnett Mx

José Molina
CEO – Next

Ana Ramos
Marketing Comms Director Mexico/ Iberia – Publicis Gruope

Alejandro Castro
Art Director – Leo Burnett Mx

Raquel Jauregui
Art Director – – Leo Burnett Mx