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 pounds 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 pounds 9,000 and pounds 18,500, and will have a maximum
annual charge of 1 per cent, a minimum contribution of pounds 20 a
month, no exit charges, no fees on transfer and a maximum contribution
of pounds 3,600 a year.
But the proposed scale of the drive has attracted criticism because it
could overlap with the pounds 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.