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.

Pension savings through credit cards purchases can be a solution, but how can anyone save money if they don't have enough to even get to the end of the month?

Faced with this reality, “Discounts for Retirement” - known in México as “Millas® para el Retiro” was born, a mobile financial service that seeks to support Mexicans to save for retirement.

This initiative that has the backing of Vitalis (a consultancy specialized in retirements), asked the agency to find a commercial solution to help Mexicans save for retirement.

If retirement money can’t come from people, we thought.... what if it came from the brands we purchase every day?

Vitalis, a top Mexican pension consulting firm, took this challenge and launched the 'Discounts for Retirement' program. A mobile financial system that connects pension funds, brands, and consumers so that people in Mexico can easily save for their retirement while spending.

It works in a very simple way. Brands who join the program will simply assign the equivalent of their promotional discounts they offer on their products, to go straight to the buyer’s retirement account.

The app is connected to all pension funds in Mexico. Consumers only need to be registered, so that the discounts can be credited directly to their account, every time they buy something.

Audience: Mexicans who have a retirement account.

The relevance of the commercial approach of this initiative is that we invite 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 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 who join the program will simply assign the equivalent of their promotional discounts they offer on their products, to go straight to the buyer’s retirement account. Mexicans can send voluntary contributions to their retirement account through an easy, digital and with no cost transaction, while brands can reward them for buying their products with direct deposits into their retirement account.

Several brands were invited to join Discounts for Retirement. Through customized presentations –according to the brand and the category– we showed them the benefits of joining the platform (such as customer loyalty, brand’s positive image, contributing to people’s future, people still having purchase power by the time they are senior citizens, etc).

Brands who join the program, simply will assign the equivalent of the promotional discounts they offer on their products to go straight to the buyer’s retirement account.

Through database, POS materials, social media, programmatic advertisement, and PR actions, people got to know Discounts for Retirement, stating the benefits of the program and the brands that participate.

Discounts for Retirement is constantly looking for brands and people to join the program.

- 294,664 app downloads

- 155,804 registered people

- $114,764,957 (pesos) to the retirement savings system of 33,692 people

- Several brands have been part of Discounts for Retirement (Starbucks, BK, Amazon, chili's, among others).

- Discounts for Retirement has also been recognized by several organizations, including the UN and World Pension Summit.

- First place in voluntary savings in Mexico (non financial institution, non government), with Support of CONSAR, Mexican Pension Regulator

- Discounts for Retirement” is the Commercial Network that sends the most money in voluntary savings to the AFORES. It's estimated that by 2027, the total voluntary savings accumulated thanks to “Discounts for Retirement” will be $350M USD.