FSA considers PR campaign on mis-sold pensions

City watchdog the Financial Services Authority (FSA) is understood to be consulting pension providers on funding a PR campaign aimed at encouraging people who have been mis-sold pensions to seek compensation.

City watchdog the Financial Services Authority (FSA) is understood

to be consulting pension providers on funding a PR campaign aimed at

encouraging people who have been mis-sold pensions to seek

compensation.



The FSA warned pension providers in March that it was planning to ask

them to fund an advertising campaign to reach pension holders who are

less likely to be aware that they have been mis-sold - because, for

example, they are not close to retirement age.



The campaign could have a total budget of up to pounds 7 million, and is

likely to run from this autumn until spring next year.



Now sources close to the FSA say that the campaign could include a PR

element, to reach workers in local government, the National Health

Service and the private sector.



The FSA would not confirm details of the campaign. These will not be

made public until the watchdog announces the results of a consultation

on the campaign and other measures to deal with mis-selling.



The watchdog has told companies which have mis-sold pensions that if

they do not pay for the campaign on a voluntary basis it will take legal

measures to ensure that they fund it.



Pension providers are unlikely to be named in the campaign. Last year

the FSA commissioned a public information film, featuring an ostrich, to

alert people to the pension mis-selling problem. The film did not name

the pension providers involved.



Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.