The Association of British Insurers (ABI) is understood to have appointed New PHD to handle media for a &£15m campaign to encourage people to save.
New PHD pitched against Zenith Media, MediaVest and BBJ Media Services for the account, which brings together banks and insurance companies in a project to pers-uade people to safeguard their financial future.
New PHD refused to comment, while the ABI was unavailable.
The Savings and Long-Term Risk Project will ask people to save regularly, take out life insurance and join pension schemes.
It will support Government plans to downgrade state pension provision by encouraging personal pensions, as well as seek to rebuild the image of the pensions industry after it was damaged by the mis-selling scandal.
The campaign, which will target middle and lower income groups, is expected to launch next year, when regional tests will precede a national roll-out. It is understood that a creative agency has already been chosen.