View more on these topics

DWP spends ‘paltry’ £660k on state pension awareness campaign

A high-profile Government campaign explaining the new single-tier state pension will cost taxpayers over £660,000, Money Marketing can reveal.

But advisers say the figure is “paltry” given the importance of the changes and compared to the money spent on boosting awareness of the auto-enrolment pension reforms.

A Freedom of Information request submitted by Money Marketing shows during 2014 and 2015, £370,000 will be spent on adverts in the national press; £12,000 in local newspapers, £132,000 on radio and £146,000 on digital advertising to communicate the reforms which abolish contracting out and the state second pension from April 2016.

The total of £661,493 pales in comparison with the Department of Work and Pensions’ multi-million pound budget for promoting auto-enrolment.

The DWP says the campaign targets two audiences – those who reach state pension age before April 2016 and will continue to be paid under the old system, and future retirees who will get the new single tier-state pension.

EA Financial Solutions managing director Minesh Patel says: “The changes are so important to communicate because for many the state pension is the core of their income.

“£660,000 sounds a bit paltry to me, to communicate all that to the general public – it should be everywhere.”

Aurora Financial Solutions director Daren O’Brien adds: “It doesn’t sound like a large amount of money in relation to how much governments normally spend. It’s a big number but actually considering it affects so many people, it’s not a lot.

“It’s a tiny fraction of the Government’s budget when it’s such a massive change to legislation.”


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Obviously the Government doesn’t want people to understand that the changes aren’t as good as it sounded when first announced.

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm