COI puts pensions task up for pitch

Four agencies are competing for a pounds 10 million campaign for the newly formed Financial Services Authority to target people who were mis-sold personal pensions.

Four agencies are competing for a pounds 10 million campaign for

the newly formed Financial Services Authority to target people who were

mis-sold personal pensions.



CDP, Bates Dorland, BMP DDB and Lowe Howard-Spink have been shortlisted

by the City’s watchdog for a high-profile push which is expected to

include television, press and direct mail.



About a third of the 1.8 million people who took out personal pensions

may have been wrongly advised to leave or not to join occupational

schemes.



The Government has been pressing pension companies to act over the

scandal.



Although the pensions industry has tracked down many of the people

affected, a relatively small number of them have come forward to claim

compensation.



The campaign will highlight their right to recompense and urge them to

claim it.



’The aim is to persuade people not to put the letter in the bottom

drawer when they are contacted by their pension company,’ one source

said.



The four shops have already made their initial presentations and the

work of two of them is expected to get into research shortly before the

winner is chosen.



It emerged in March that the FSA was considering an advertising campaign

as one of a number of options to boost its awareness-raising

efforts.



The decision to put such a large sum behind the campaign has led to the

FSA working with the Central Office of Information, which will handle

media buying, research and advise on campaign management. The link-up is

a boost for the COI’s efforts to win new business among public bodies

outside Whitehall departments.



Soon after taking office last year, Labour announced the setting up of

an independent financial services body to take over regulation from the

Bank of England. The FSA is headed by Howard Davies, former deputy

governor of the Bank and ex-director general of the Confederation of

British Industry.



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