B-M wins Prudential stakeholder pension

Top five financial services company Prudential has hired Burson-Marsteller to handle the mass market launch of its Stakeholder Pension.

Top five financial services company Prudential has hired

Burson-Marsteller to handle the mass market launch of its Stakeholder

Pension.



Prudential Group Pensions last month staged a competitive pitch for the

business, estimated to carry annual fees in the region of pounds

200,000.



The pitch was also understood to have included Grayling PR, Joe Public

Relations and Fishburn Hedges.



The five-strong account team will be led by the managing director of

B-M’s marketing practice in the UK, Deborah Saw. The team will report to

PGP’s head of market-ing communications Karen Richardson-Fowles.



The stakeholder pension, to be launched next year under a Government

plan, will enable those on low-incomes, earning between pounds 9-20,000,

to provide for their retirement. The pension will be administered by PGP

rather than the company’s retail arm, which handles individual private

pension schemes.



All companies that employ more than five staff, but do not offer an

occupational scheme, are required to register for the stakeholder

package.



Although Prudential is a leading financial services company, its ability

to sell the product to low earners is threatened by the emergence in the

financial services market of recognised brand names, such as Virgin and

Marks and Spencer.



’Our task is to help PGP become the dominant force in stakeholder

pension provision from next April. We (aim) to promote the pensions to

the mass market,’ Saw said.



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