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
The Government has been pressing pension companies to act over the
Although the pensions industry has tracked down many of the people
affected, a relatively small number of them have come forward to claim
The campaign will highlight their right to recompense and urge them to
’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
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
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