RFP QUESTION 3.10
Bringing CDC to life
"Please provide a sample member facing communication explaining how CDC benefits can increase or decrease. A one-page summary or visual explainer suitable for members (Optional: storyboard or concept for a short video/digital communication)."
We've developed a storyboard for an animated video explainer, made for someone with no prior knowledge of CDC — designed to work across the website, statements and anywhere a QR code can do the heavy lifting.
Shot 1
Introduction music....
Shot 2
The Royal Mail Collective Plan is designed to provide you with an income for life....
Shot 3
...paid from a shared pool that all members contribute to and benefit from.
Shot 4
Your pension is a target amount, a planned goal, not a guaranteed figure.
Shot 5
It's reviewed by the Trustee with the help of our experts.
Shot 6
We check three things: how investments have performed....
Shot 7
...how long pensions are expected to be paid (people living longer),
Shot 8
...and wider economic conditions.
Shot 9
If investments do well, or the cost of paying pensions is lower than expected, then there's more in the shared pool. That can mean pensions increase, so members share the benefit rather than any extra being held back.
Shot 10
If returns are lower, or people live longer than expected, the Trustee may need to reduce pensions a little now to avoid a much bigger cut later. It's like slowing the pace to conserve supplies so everyone can finish the journey.
Shot 11
So to sum up....
Shot 12
...your pension may increase, decrease or stay the same from year to year.
Shot 13
Any change will be explained clearly, in pounds, not just percentages.
Shot 14
If you already receive a pension, you'll be told exactly what happens and when.
Shot 15
If you're not yet receiving one, small adjustments today help protect your long-term outcome.
Shot 16
Outro music...
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