Sun Life Financial-Philippines Foundation,Inc. (Sun Life Foundation), the philanthropy arm of Sun Life Philippines, is responding to the challenges brought about by the COVID-19 pandemic with a program that promotes financial security and health.
Dubbed “Rise Brighter PH,” the program will consist of Sun Pera-Aralan 2020, a financial management program specifically created for public school teachers, and Sun Life Barangay Health Stations which will serve as accessible sources of primary healthcare to be built in poor and distant municipalities. Each program aims to touch 125,000 lives in the next five years.
“As Sun Life Philippines marks its 125th anniversary this year, Rise Brighter PH is our way of honoring our lifetime partnership with the Filipino people and letting them know that we remain at their side in these trying times,” said Sun Life Philippines CEO and Country Head Benedict Sison who is also Chairman of the Sun Life Foundation. “We have seen Filipinos rise above trials many times over, and we are confident that together, we will prevail.”
Sun Pera-Aralan 2020
Sun Pera-Aralan 2020 is a behavior-based financial management program which makes use of the Peso Sobre tool in helping public school teachers manage their budget, extend their salary until the next pay day, and eventually lessen indebtedness. The program also provides access to volunteer Sun Life advisors whom they can consult for free, as well as a Facebook community where they can share experiences and find inspiration in their fellow teachers.
Initially mounted last year, Sun Pera-Aralan has proven effective in helping public school teachers handle their finances. Reports gathered from the initial batch consisting of 10,224 public school teachers showed that they were not only able to budget better, but even had surplus funds at their discretion when the lockdown was implemented early this year.
This 2020, Sun Pera-Aralan will be implemented in public schools in (areas) with the help of AHA Behavioral Design, Inc. and in coordination with the Department of Education.
Sun Life Barangay Health Stations
Meanwhile, with the importance of health care coming to light amid the pandemic, Sun Life Foundation, in partnership with Health Futures Foundation, Inc., will also endeavor to provide basic services to the poorer sectors of society through the Sun Life Barangay Health Stations.
A total of eight Sun Life Barangay Health Stations will be constructed throughout Batangas within the year. Each will provide curative services, as well as preventive and promotive initiatives such as immunizations, consultations, follow-ups and health lectures. A community-based health and wellness program will also be established, while local health personnel like barangay health workers and health cluster leaders will be provided relevant training so they can efficiently sustain the barangay health station.
“The Sun Life Foundation’s projects are anchored on our company’s purpose, which is to help Filipinos achieve lifetime financial security and live healthier lives. We earnestly hope that helping fulfill these needs, Rise Brighter PH will empower beneficiaries in their journey towards recovery,” said Sun Life of Canada (Philippines), Inc. and Sun Life Foundation President Alex Narciso. “Moreover, may it give them hope that despite the challenges we’re currently facing, a brighter future is still in the horizon.”
Sun Life Foundation’s Virtual Press Conference
During the virtual conference of Sun Life “Rise Brighter PH Presscon”, the Sun Pera-Aralan 2020 Program for the teachers were discussed and presented thoroughly. Attended by Sun Life of Canada (Philippines), Inc. and Sun Life Foundation President Alex Narciso, Sun Life Foundation Chairman of the Board, Benedict Sison, Sun Life Foundation Executive Director, Kristine Dianne Millete, with Sun Life Ambassador, Enchong Dee and the invited Media Friends.
During the Q and A portion, we were asked to throw in some questions, and I had one to asked them about the Sun Pera-Aralan Program. “Is there a certain amount needed to save or to put inside the Peso-Sobre? How much is it? And do you think our teachers can afford to do it amidst the pandemic season?“ And so here goes a very nice answer according to Sun Life Foundation Executive Director Kristine Dianne C. Millete.
“As a carefully designed behavioral intervention grounded on the public school teacher’s money journey, and on a sound Behavioral Economics principle around choice architecture — Empathy and Success Momentum, are the cornerstone of the Peso Sobre design. The tool always respects the current realities and capabilities of the teacher. It never forces the teacher to start with a certain amount, or save a certain amount.
The tool’s design fully respects the unique situation and limitation of each teacher, who uses it, so what is being promoted is not a prescription of a certain amount to budget or a prescription of a certain amount to save — which all may give unnecessary pressure to the teacher, and therefore will not try out the behavior, in the first place.
If these prescriptions (usually from “financial expert gurus”, who are not necessary grounded in the context of the teachers) are not encouraged, what the tool encourages is the actual behavior of budgeting their money, regardless of how much they have, in a particular and effective way. That is why the Sun Pera Aralan and the Peso Sobre, is not a financial literacy program, but a financial management program, where target behaviors are “nudged” for the betterment of the teacher.
In light of all these, even in this time of pandemic, no prescription is given to the teacher, yet the Peso Sobre “nudges” the teacher to behave around their budgeting in a manner that is beneficial to them, given their unique circumstances and limitations. In fact, more teachers (95%) have used the Peso Sobre during this time of the pandemic, without being coerced to do so. The increase in the use of the Peso Sobre, given this time of the pandemic, may be attributed to a certain success momentum since they have already habituatized the use of the tool since November 2019.
Key in Behavior Design to create habits is that “Emotions Changes Behavior” (and not repetition, which is widely believed), and the feeling and experience of success of the teachers who have been using the Peso Sobre since November 2019, have created that success momentum and embedded that habit, which remains even in this time of the pandemic.”
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