Nedbank campaign gives South Africans a reality check on saving for retirement

July is national savings month in SA and Nedbank, in partnership with Joe Public, has launched a campaign showcasing the harsh reality of not saving enough for retirement.  

“Ninety percent of South Africans do not save enough for retirement. On top of that, the average South African spends 80% of their salary in just five days, and 67% of their monthly income is used to pay off debt. These statistics are alarming and, as money experts who do good, Nedbank has brought awareness to the issue of spending behaviour and saving in SA,” says Buli Ndlovu, executive head of retail and business banking marketing at Nedbank. 

The activation took place at a trendy restaurant in Sandton where their young and lively waitrons were substituted with elderly actors who were way past retirement age. Everything was captured on hidden cameras to later reach a wider audience online.

There were mixed reactions from the patrons during their dining experience, and it was only when the bill arrived — highlighting the campaign message: “Reality Check. 90% of South Africans can’t afford to retire” — that the penny dropped.   

The campaign sparked a lively debate about retirement online, and, as hoped, also resulted in introspection that leads to action. 

“Most South Africans find it difficult to save, but what they don’t realise is that it’s never too late to start — even with a small amount every month. The more we can highlight issues like this in our communication, the brighter our future as a nation will be,” says Martin Schlumpf, integrated executive creative director at Joe Public. 

Watch the campaign below: 

This article was sponsored by Joe Public.