Well-known bosses - including stars of BBC’s Dragons’ Den and The Apprentice, Theo Paphitis and Karren Brady - feature in a new advertising campaign starting today (Monday) to raise awareness of the biggest change in pensions for over 100 years.
The Government’s major “automatic enrolment” programme, being introduced from October, aims to get up to 11 million more people saving in a workplace pension by 2018.
These latest advertisements are part of the Government’s awareness campaign, which encourages people being auto-enrolled by their employers into a pension to respond positively and remain in a scheme.
The new advertisements run from Monday 17 September until mid-October across TV, radio, print and online media, and feature employers - like Theo and Karren - backing automatic enrolment and saying “I’m in”.
Steve Webb, Pensions Minister, said:
I’m delighted that well-known bosses have taken part in our latest awareness campaign, and back the biggest change in pensions for over a century - automatic enrolment.
People should know that all they need to do is look out for a letter from their employer, and if they do nothing and stay “in” they are effectively getting a pay rise.
The Department for Work and Pensions (DWP) expects that around two-thirds of individuals will say “I’m in”, and remain saving in a workplace pension. Just 9% in a DWP survey said they would definitely “opt out” and choose not to take part.
This new campaign will see advertisements running on ITV, Channel 4, Sky, Channel 5, commercial radio stations and online, as well as print advertisements across the national press, key magazines and the business and trade press. Different types of print advertisements with specific messages will target individuals and employers.
Notes to editors:
- The advertisements running from 17 September until mid-October have cost £3.5 million. The total awareness campaign on automatic enrolment will cost £8.1 million.
- The celebrities featured in the advertisements gave their time and services completely free of charge. Other well-known figures include; Nick Hewer, from the BBC’s Apprentice programme, Ian Cheshire, CEO of Kingfisher plc, Rupert Gavin, CEO of Odeon, Nikki King, CEO Isuzu Trucks, Peter Boutwood, MD of Noble, and Barry Chevallier Guild, Chairman of Aspalls.
- From October, starting with the largest employers, bosses will be required by law to pay into a workplace pension for all eligible staff who do not opt out. Anyone over 22 years of age, currently earning more than £8,105 and working for an employer who is affected will be automatic enrolled.