Govt shortlists shops for pensions drive

- The Government is planning a high-profile campaign to encourage people on low incomes to take out stakeholder pensions.

- The Government is planning a high-profile campaign to encourage people on low incomes to take out stakeholder pensions.

A shortlist of agencies has been drawn up and includes Lowe Lintas & Partners, D'Arcy, Delaney Lund

Knox Warren & Partners and one unnamed agency. The account is expected to be worth £10 million.

A spokesman for the Department of Social Security, which is co-ordinating the search, said: "We can't say that much on this issue as it is confidential. We can confirm that we are talking to agencies about a financial services campaign in the area of stakeholder pensions."

Alistair Darling, the social security secretary, will launch stakeholder pensions on 1 April next year. They are aimed at people with an income of between £9,000 and £18,500, and will have a maximum annual charge of 1 per cent, a minimum contribution of £20 a month, no exit charges, no fees on transfer and a maximum contribution of £3,600 a year.

But the proposed scale of the drive has attracted criticism because it could overlap with the £15 million Savings and Long-Term Risk campaign launch, co-ordinated by the Association of British Insurers, which is scheduled for the summer through Abbott Mead Vickers BBDO. It is also designed to encourage people to take out pensions.



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