INTERNATIONAL: Hong Kong tenders radical new pension scheme

HONG KONG: Burson-Marsteller, Ogilvy PR and Hill and Knowlton have pitched for one of the biggest government accounts of the year in Hong Kong for the launch of the Mandatory Provident Fund.

HONG KONG: Burson-Marsteller, Ogilvy PR and Hill and Knowlton have

pitched for one of the biggest government accounts of the year in Hong

Kong for the launch of the Mandatory Provident Fund.



Eleven agencies pitched last week for the ’six-figure’ budget launch of

the new scheme which will radically alter the way the working population

prepares for retirement.



The Mandatory Provident Fund Schemes Authority (MPFSA), a government

body, said the successful agency would have a track record with

government and financial campaigns on a massive scale.



The marketing mix of the campaign, however, remains in the balance as

the MPFSA is unclear on whether PR or advertising should lead the

programme.



PR agencies partnering with advertising firms, such as Ogilvy PR, are

believed to be favoured.



Under the new retirement scheme, almost all of Hong Kong’s 3.4 million

workforce is required to make contributions to a retirement management

system. Only a third of the workforce has any form of retirement plan at

present.



The retained agency will run the campaign for 18 months and will provide

above-the-line campaign support and provide ongoing campaign evaluation.



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