Top five financial services company Prudential has hired
Burson-Marsteller to handle the mass market launch of its Stakeholder
Prudential Group Pensions last month staged a competitive pitch for the
business, estimated to carry annual fees in the region of pounds
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
All companies that employ more than five staff, but do not offer an
occupational scheme, are required to register for the stakeholder
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.