Meet the U.K. defined contribution market's new mascot: Workie.
Workie is “a striking physical embodiment of the workplace pension,” said a statement from the Department for Work and Pensions.
The aim of the government's new multimillion pounds campaign is to change the U.K.'s perception of occupational defined contribution plans. Millions of U.K. employees are being automatically enrolled into a workplace retirement plan for the first time in a staged process, and 1.8 million small and micro employers are now required to take action.
Workie, a multicolored monster, is featured in television and digital advertisements, visiting people in their workplaces and asking them not to ignore him. He comes with the hashtag “DontIgnoreIt,” and was introduced on prime-time television Oct. 21.
Executives in the money management industry across the globe took to Twitter to express their views on Workie. They ranged from observations that Workie is “kinda cute,” to labeling it “a silly gimmick.” Some bashed the DWP for spending millions on a campaign while at the same time cutting benefits in other areas.