Eager to cash in on the hottest season for the investing public, the federal government is offering a special rrsp bond – and it has launched a campaign to promote it that’s comparable to that of any of Canada’s financial institutions.
The Canada RRSP Bond incorporates some of the features of the ubiquitous, low-risk Canada Savings Bond, but was created specifically as a registered investment for Retirement Savings Plans, according to Paul Bailey, vice-president of marketing for Canada Investment and Savings, formerly the Canadian Retail Debt Agency under the Bank of Canada.
‘We have to manufacture products that are relevant to the needs of the Canadian consumer,’ says Bailey, adding that the new bond offers guaranteed annual interest rates for 10 years, with compound interest each year on the anniversary of issue.
An investor can choose to contribute – or transfer – anywhere from a minimum of $500 to an individual’s maximum rrsp contribution for the year.
If the investment vehicle sounds very similar to Canada Savings Bonds, it’s because it is – except that it’s offered during rrsp season. ‘We’re looking at those times when Canadians like to buy (investment vehicles),’ says Bailey.
cis agency Vickers & Benson created one 30-sec. tv commercial that follows in the footsteps of the csb spots seen last fall, where older Canadians pursued unconventional pursuits.
As well, cis has introduced a ‘bond bus’ in 10 cities across Canada – a fully painted public transportation bus carrying advertising consistent with the tv commercial.
The campaign is supported by newspaper ads and a direct marketing campaign.
